Dacahr Bros., Inc., is an automobile maintenance and repair company with outlets throughout the western United States.
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Dacahr Bros., Inc., is an automobile maintenance and repair company with outlets throughout the western United States. Henley Turlington, the company controller, is strating to assemble the cash budget for the fourth quarter. Projected sales for the quarter are as follows:
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Cash collection records pertaining to sales on account indicate the following collection pattern:
Month of Sale..........40%
First month following sale......30%
Second month following sale....28%
Uncollectible............ 2%
Sales on account during August were $346,000. During September, sales on account were $395,000.
Compute the amount of cash to be collected from customers during each month of the fourthquarter.
A cash budget is an estimation of the cash flows for a business over a specific period of time. These cash inflows and outflows include revenues collected, expenses paid, and loans receipts and payment. Its primary purpose is to provide the...
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