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The Company produces a variety of wood related products. The following are the cash...

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Accounting

The Company produces a variety of wood related products. The following are the cash receipts and disbursement schedule for the Company in the month of August, 2021:

Management expects to sell 7,500 units of products in July and 9,200 units in August. Each unit sells for $ 12. Cash sales average 30% of total sales, and credit sales make up the rest. On average, of credit sales are collected in the month of sale, with the balance collected the following month. The company expenses $ 5,000 per month for insurance. The insurance premium is paid semiannually in September and March. The company pays commissions and other expenses of $ 4,200 per month A depreciation expense of $ 4,500 is recognized each month Harvest declares $ 100,000 in cash dividend to be paid on August 31

Q. Calculate the net cash at the end of August prior to any financing.

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