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1) Eddie's Bar and Restaurant Supplies expects its revenues and payments for the first part of the vear: PO Jan, Feb. Mar. April, May June

1) Eddie's Bar and Restaurant Supplies expects its revenues and payments for the first part of the vear: PO Jan, Feb. Mar. April, May June July August Sales $9.000 10.000 14.000 22.000 23.000 18.000 12.000 10.000 Purchases $22.000 23.000 21.900 20.700 14.700 13.500 12.320 11.500
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1) Eddie's Bar and Restaurant Supplies expects its revenues and pavments for the first oart of the vear: a) Prepare a schedule of cash receipts for March, April, May, June, July and Aurust 70 percent of the firm's sales are on credit. Past experience shows that 45 percent of accounts receivable are collected in the month after sale, and the remainder are collected in the second month aftersale. Eddie's pars its parments in the following month. Eddie's had a cash balance of $2,000 on March 1, which is also its minimum required cash balance. There is an outstanding loan of $2,000 on March 1. b) Prepare a cash budget for March, April, May, June, July and August

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