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PLEASE THUMBS UP!!! Question: Jasmine Company provided the following...

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Accounting

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Question: Jasmine Company provided the following sales information for the month of December: November December Actual Budget Cash sales $ 20,500.00 $ 40,000.00 Credit sales 100,000.00 130,000.00 Total sales $120,500.00 $170,000.00 For credit sales, the collection pattern is as follows: Month of sales 70% Month following sales 25% Based on past experience, the company estimates the remaining credit sales are uncollectible. Inventory purchases average 75% of current month's total sales. Payments for inventory are made as follows: Month of purchase 60% Month following purchase 40% Other expenses are as follows: AA Wages and benefits per month $ Rent and Utilities per month $ Gift baskets and ribbons $ Tax payment per quarter to be paid in December $ Depreciation expenses per month December 1 cash balance is $4,580.00. 12,500.00 5,800.00 1,200.00 1,500.00 1,000.00 GA Required: Cash sales and collections on account for the month are $ A/ Payments for inventory for the month are $ A Payments for all other expenses for the month are $ A/ The ending cash balance at the end of the month is $

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