Cash Collections for Firm Cash Budgets
Not what you're looking for?
Great Buy's sales are all made on account. The firm's collection experience has been that 20% of a month's sales are collected in the month of sale, 60% are collected in the month following the sale, and 18% are collected in the second month following the sale. The sales forecast for August through November is:
Aug.---------$480,000
Sept.--------$560,000
Oct.---------$600,000
Nov.---------$700,000
Calculate the cash collections that would be included in the cash budgets for Oct. and Nov.
Purchase this Solution
Solution Summary
Detailed explanation is given that determines the cash collections for Great Buy's cash budgets for the months of October and November.
Purchase this Solution
Free BrainMass Quizzes
Academic Reading and Writing: Critical Thinking
Importance of Critical Thinking
Team Development Strategies
This quiz will assess your knowledge of team-building processes, learning styles, and leadership methods. Team development is essential to creating and maintaining high performing teams.
Managing the Older Worker
This quiz will let you know some of the basics of dealing with older workers. This is increasingly important for managers and human resource workers as many countries are facing an increase in older people in the workforce
SWOT
This quiz will test your understanding of the SWOT analysis, including terms, concepts, uses, advantages, and process.
MS Word 2010-Tricky Features
These questions are based on features of the previous word versions that were easy to figure out, but now seem more hidden to me.