The directors of Rexking Co. Ltd are concerned about the companys cash flow. They have...
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Accounting
The directors of Rexking Co. Ltd are concerned about the companys cash flow. They have requested their accountant to compile data which shall be used to prepare a cash budget. The following data have been provided. (i) The following sales figures are for the months of November 2020 to June 2021. Actual sales Rs November 2020 60,000 December 2020 64,000 Forecast sales Rs January 2021 65,000 February 2021 70,000 March 2021 72,500 April 2021 76,250 May 2021 80,000 June 2021 78,750 Half the sales are normally paid for in the month in which they occur and the customers are rewarded with a 5% cash discount. The remaining sales are paid in the month following the sales. (ii) Goods are
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