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The Amber Magic Shoppe

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The Amber Magic Shoppe has forecast its sales revenues and purchases for the last 5 months of 200x to be as follows;60% of sales are on credit. On the basis of past experience, 50% of the accounts receivable are collected the month after the sale and the remainder are collected 2 months after the sale. Purchases are paid 30 days after they are incurred. The firm had a cash balance of $5,000 as of September 30th, and its minimum required cash balance is $4,000. It had no beginning loan balance. Prepare a cash budget for October, November and December. This table gives you a fair start. sent attachmt - need help to prepare a cash budget for Oct Nov Dec;- Sent to Economics Expert Tutor on 10/1/2010 at 6:27pm

 

Paper#27868 | Written in 18-Jul-2015

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