1. Compute the amount of cash inflow for September based on the following budgeted credit...
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Accounting
1. Compute the amount of cash inflow for September based on the following budgeted credit sales.
June 100,000
July 120,000
August 80,000
September 90,000
Assume that 70% of accounts receivable are collected in the month of the credit sale, 20% in the month following the sale, and 10% in the second month following the sale.
2.
Compute the amount of borrowing based on the following data.
Beginning cash balance 80,000
Cash receipts 50,000
Cash disbursements 72,000
Minimum ending cash balance 75,000
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