Martin company has prepared the following schedules and additional information. Cash Receipts from Customers Total sales Cash
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Martin company has prepared the following schedules and additional information.
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Cash Receipts from Customers Total sales Cash Receipts from Customers: Accounts Receivable balance, January 1 January--Cash sales January-Credit sales, collection of January sales in January January-Credit sales, collection of January sales in February February-Cash salos February-Credit sales, collection of February sales in February February-Credit sales, collection of February sales in March March-Cash sales March Credit sales, collection of March sales in March Total cash receipts from customers Accounts Receivable balance, March 31: March-Credit sales, collection of March sales in April January February March $ 12,400 $ 11,300 $ 14.100 $ January February March $ $ $ 8,680 1.860 $ 10,540 $ 2,115 1.860 7,910 1,695 $ 11.465 $ 1.695 9,370 2,115 13,680 $ Total 37,800 Total 35,685 Cash Receipts from Customers Total sales Cash Receipts from Customers: Accounts Receivable balance, January 1 January--Cash sales January-Credit sales, collection of January sales in January January-Credit sales, collection of January sales in February February-Cash salos February-Credit sales, collection of February sales in February February-Credit sales, collection of February sales in March March-Cash sales March Credit sales, collection of March sales in March Total cash receipts from customers Accounts Receivable balance, March 31: March-Credit sales, collection of March sales in April January February March $ 12,400 $ 11,300 $ 14.100 $ January February March $ $ $ 8,680 1.860 $ 10,540 $ 2,115 1.860 7,910 1,695 $ 11.465 $ 1.695 9,370 2,115 13,680 $ Total 37,800 Total 35,685
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To prepare a cash budget for Martin company we need to consider all the cash inflows and outflows for each month and then calculate the ending cash ba... View the full answer
Related Book For
Intermediate Accounting principles and analysis
ISBN: 978-0471737933
2nd Edition
Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso
Posted Date:
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