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5. Mandy is currently forecasting all her cash inflows for the next four months-July to October of the current year. Mandy forecasts that sales for
5. Mandy is currently forecasting all her cash inflows for the next four months-July to October of the current year. Mandy forecasts that sales for each month would be as follows: July - P 350,000, August - P 500,000, September - P 450,000 and October - P 480,000. Mandy has determined that she has the following sources of cash for each month: a. Cash Sales from Customers: July - P 30,000, August - P 38,000, September - P 44,000, and October - P 52,000 b. Collection of accounts receivable: Mandy expects that during the month of sale, 25% of the receivable is collectible, 50% on the month after sale, while the remaining balance, two months after sale. For the month of June, Mandy's sales amounted to P 380,000, this is 80,000 more than his reported sales for the month of May. c. Mandy holds some stocks of some profitable corporations and expects to receive dividends as follows: July - P 5,000, August - P 8,000, September - P6,000, and October - P 3,000. Prepare Mandy's Cash Receipts Budget for each month. . Prepare Mandy's cash budget for the four months in total
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