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3 parts please do all. Thank you. ore: 0.95 of 21 pts 7 of 7 (7 complete HW Score: 69.97%, 69.97 of 100 P22-43A (similar
3 parts please do all. Thank you.
ore: 0.95 of 21 pts 7 of 7 (7 complete HW Score: 69.97%, 69.97 of 100 P22-43A (similar to) B Question Help Cube Company's budget committee provides the following information: (Click the icon to view the information.) Read the requirements. Requirement 1. Prepare the schedule of cash receipts from customers for January and February 2018. Assume cash receipts are 70% in the month of the sale and 30% in the month Following the sale Cube Company Budgeted Cash Receipts from Customers Two Months Ended February 28, 2018 January February Current month sales, 70% Enter any number in the edit fields and then click Check Answer 2 3 parts Clear All Check Answer remaining Next Previous a E 11 O Score: 0.95 of 21 pts 7 of 7 (7 complete) %x P22-43A (similar to) Cube Company's budget committee provides the following information: (Click the icon to view the information.) Read the requirements. Cube Company Budgeted Cash Receipts from Customers Two Months Ended February 28, 2018 January February Current month sales, 70% Prior month sales, 30% Total cash receipts Enter any number in the edit fields and then click Check Answer. Clear All 3 parts remaining Previous o II 7 of 7 (7 complete) HW Score: 69.97%, 69.97 Data Table X be Company Receipts from Cu: nded February 28 Jan December 31, 2017, account balances: Cash $ 30,000 Accounts Receivable 18,000 Merchandise Inventory 20.000 Accounts Payable 15.000 Salaries and Commissions Payable s and then click CH 2.500 Budgeted amounts for 2018: January February Sales, all on account $ 85,000 $ 85,300 Check Answer Purchases, all on account 40.900 41,300 Commissions Expense 4,250 4.265 Print Done a sling HW Score: 69.97%, 69.97 Data Table Company eipts from Cu February 28 Jan Salaries and Commissions Payable 2,500 Budgeted amounts for 2018: Sales, all on account January February $ 85,000 $ 85,300 40,900 41,300 4,250 4,265 4,500 4,500 then click CH Purchases, all on account Commissions Expense Salaries Expense Rent Expense Depreciation Expense Insurance Expense Income Tax Expense 3,200 3,200 700 700 Check Answer 500 500 1,600 1,600 Print Done a 100 sling 7 of 7 (7 complete) HW Score: 69.97%, 69.5 mpany Requirements pts fro Febru 1. Prepare the schedule of cash receipts from customers for January and February 2018. Assume cash receipts are 70% in the month of the sale and 30% in the month following the sale. 2. Prepare the schedule of cash payments for purchases for January and February 2018. Assume purchases are paid 70% in the month of purchase and 30% in the month following the purchase. 3. Prepare the schedule of cash payments for selling and administrative expenses for January and February 2018. Assume 40% of the accrual for Salaries and Commissions Payable is for commissions and 60% is for salaries. The December 31 balance will be paid in January. Salaries and commissions are paid 40% in the month incurred and 60% in the following month. Rent and income tax expenses are paid as incurred. Insurance expense is an expiration of the prepaid amount. 4. Prepare the cash budget for January and February 2018. Assume no financing took place then cl Check Answer Print DoneStep by Step Solution
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