2 of 5 View Policies Current Attempt in Progress You are provided with the following information taken from Carla Vista Inc's March 31, 2025, balance sheet. Cash Accounts receivable $11,780 20,690 Inventory 36,600 Property, plant, and equipment. Met of depreciation 121,000 Accounts payable 23,210 Common stock 151.600 12.370 Retained earnings Additional information concerning Carla Vista Inc. is as follows. 1 Gross profit is 20% of sales 2 Actual and budgeted sales data -/10 Additional information concerning Carla Vista Inc. is as follows. 1. Gross profit is 26% of sales. 2. Actual and budgeted sales data: March (actual) April (budgeted) $47,200 71,300 3. Sales are both cash and credit. Cash collections expected in April are: March April $18.880 0% of $47.2001 42,780 (60% of $71.300) $61.660 4 Half of a month's purchases are paid for in the month of purchase and half in the following month Cashabbursement a Purchases March $23.210 Purchases April 28.660 $51.870 4. Half of a month's purchases are paid for in the month of purchase and half in the following month. Cash disbursements expecte Purchases March $23,210 Purchases April 28,660 $51,870 5. Cash operating costs are anticipated to be $11.940 for the month of April. 6. 7. Equipment costing $2.790 will be purchased for cash in April. The company wishes to maintain a minimum cash balance of $12.610. An open line of credit is available at the bank. All borrowing is done at the beginning of the month, and all repayments are made at the end of the month. The interest rate is 14% per year, and interest expense is accrued at the end of the month and paid in the following month Prepare a cash budget for the month of April. Determine how much cash Carla Vista loc. must borrow or can repay in April List items that increase cash balance first.) CARLA VISTA INC. Cash Budget -/10 E Prepare a cash budget for the month of April. Determine how much cash Carla Vista loc. must borrow, or can repay in April. (List items that increase cash balance first.) CARLA VISTA INC. Cash Budget eTextbook and Media -/10 I Current Attempt in Progress The financial statements of the Sandhill Manufacturing Supply Company report net credit sales of $384000 and net accounts receivable of $56400 and $36000 at the beginning of the year and the end of the year, respectively. What is the average collection period for accounts receivable in days? (Use 365 days for calculation.) 33.7 54.0 84.4 43.9 Save for Later Attempts: 0 of 2 used SA