59 36 37 38 mn 26 27 28 29 30 31 32 33 34 35 25 24 READY 14 15 16 17 18 19 20 21 22 23 Prince George's favourite toy is a wooden fire truck created by a small company in London, and given to him by his great-grandmother. Seeing an opportunity, a local business man has incorporated the Prince George Toy Company to wholesale the toy to retailers throughout the United Kingdom. He purchases the truck at $4.00 per unit and sells them at wholesale for $10.00 per toy. With the Christmas season coming up, the company expects the following pattern of sales into the new year: September October November December January Sales Dollars $9.600 14,400 21,600 Solution Problem 4-30 (LO 2) 16.800 7,200 Cash sales are 20% of total sales. The remaining sales are made on credit. Historically, 32% of sales are collected in the month after the sale, and the remaining 48% are collected in the second month after the sale. Because the supplier is local, Prince George Company is able to keep a minimum inventory on hand. Their closing inventory balance at the end of any month should be half of the sales for the next month. Inventory at the beginning of September is 800 unita Problem 1 V2 Units Purchases from the manufacturer are paid over a two-month period. 40% of purchases are paid in are paid in the month following purchase. In addition, they pay a commission to their sales force of 6.0% of sales (paid in the month of purchase and 60% month of sale). 960 1,440 2,160 1.680 720 Finally, the company pays monthly rent of $4,000 and expenses depreciation of $1,600 per month. They will have a one-time payment of dividends in December amounting to $35,000. Instructions Use the template below to prepare a cash budget. Complete the Cash Receipt Schedule for November and December Problem 2 V2 Problem 3 V2 Problem 4 V2 M Problem 5 V2 New

Solution Problems 30 (10 2) instrartinos Uar the tamglate below to prepare a canh budger Complete ere Cah Rtceipt Schadule for November and Desember