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Was this answer helpful? Monu Goel answered this 351 answers Rate an Sale 60% of Sale collected in month of salei.e in same month 40% of Sale collected in month following sale Le in next month 417000 Monthly Schedule of Expected Cash Receipt for 1st Quarter of 2020 Calculation of Expected Cash receipt in January $ 60% of Sale collected in month of sale (435,000 60%) 261000 December Month Sale Collected in January Month (390,000*40%) 156000 417000 Gakulation of Expected Cash receipt in February 60% of Sale collected in month of sale (564,000*60%) 338400 January Month Sale Collected in February Month (435,000-40%) 174000 512400 Calculation of Expected Cash receipt in March: 60% of Sale collected in month of sale (390,000 60%) 234000 February Month Sale Collected in March Month (564,000*40%) 225600 459600 Expected Cash Receipt for Ist Quarter of 2020 512400 459600 1389000 ce to search e hp Question 2 5 Points Further to question 1. Supreme Ventilation has the following projected expenses: The entity pays for inventory purchases in the month after purchase. Monthly expenses consist of wages totalling $92,000. depreciation on plant and equipment $18,000 and other expenses $103.750 and are paid as incurred. Supreme Ventilation has signed a 3 month promotional campaign with the local television station. The campaign costs $9,000 and requires payment on 1 February and the campaign will run until the end of April. The cash balance as at 1 January 2020 is expected to be $17,000, Required: Using the expected cash receipts you prepared for the first quarter in question 1 and from the information presented above, prepare a cash budget for the first quarter of 2020. Write your answer on paper and upload the image of your answer into the field below. Once you have selected the image, choose the option to display your file inline if the browser allows'. This will allow us to see the image of your solution in the answer field below. Use the editor to format your answer Was this answer helpful? Monu Goel answered this 351 answers Rate an Sale 60% of Sale collected in month of salei.e in same month 40% of Sale collected in month following sale Le in next month 417000 Monthly Schedule of Expected Cash Receipt for 1st Quarter of 2020 Calculation of Expected Cash receipt in January $ 60% of Sale collected in month of sale (435,000 60%) 261000 December Month Sale Collected in January Month (390,000*40%) 156000 417000 Gakulation of Expected Cash receipt in February 60% of Sale collected in month of sale (564,000*60%) 338400 January Month Sale Collected in February Month (435,000-40%) 174000 512400 Calculation of Expected Cash receipt in March: 60% of Sale collected in month of sale (390,000 60%) 234000 February Month Sale Collected in March Month (564,000*40%) 225600 459600 Expected Cash Receipt for Ist Quarter of 2020 512400 459600 1389000 ce to search e hp Question 2 5 Points Further to question 1. Supreme Ventilation has the following projected expenses: The entity pays for inventory purchases in the month after purchase. Monthly expenses consist of wages totalling $92,000. depreciation on plant and equipment $18,000 and other expenses $103.750 and are paid as incurred. Supreme Ventilation has signed a 3 month promotional campaign with the local television station. The campaign costs $9,000 and requires payment on 1 February and the campaign will run until the end of April. The cash balance as at 1 January 2020 is expected to be $17,000, Required: Using the expected cash receipts you prepared for the first quarter in question 1 and from the information presented above, prepare a cash budget for the first quarter of 2020. Write your answer on paper and upload the image of your answer into the field below. Once you have selected the image, choose the option to display your file inline if the browser allows'. This will allow us to see the image of your solution in the answer field below. Use the editor to format your