6 QS 22-20 Cash receipts, with uncollectible accounts LO P2 1 points The Guitar Shoppe reports the following sales forecast: August, $170,000; September, $180,000. Total sales include 35% cash sales, 55% credit sales collected in the month following sale, and 10% credit sales written off as uncollectible. Prepare a schedule of cash receipts for September eBook THE GUITAR SHOPPE Cash Receipts Budget For Month Ended September 30 Cash receipts from August sales Cash receipts from September sales Total budgeted cash receipts Hint Print 7 QS 22-23 Budgeted loan activity LO P2 1 points Santos Co. is preparing a cash budget for February. The company has $15,000 cash at the beginning of February and anticipates $68,000 in cash receipts and $117,000 in cash disbursements during February. What amount, if any, must the company borrow during February to maintain a $5,000 cash balance? The company has no loans outstanding on February 1. (Negative cash balances, if any, should be indicated with minus sign.) eBook SANTOS CO. Cash Budget For Month Ended February 28 Beginning cash balance Hint Print Total cash available Preliminary cash balance Ending cash balance 00 8 QS 22-24 Manufacturing: Cash budget LO P2 Use the following information: 1 points a. Beginning cash balance on March 1, $72,000. b. Cash receipts from sales, $308,000. c. Budgeted cash payments for direct materials $134,000. d. Budgeted cash payments for direct labor $77,000. e. Other budgeted cash expenses, $41,000. f. Cash repayment of bank loan, $13,000. eBook Hint Prepare a cash budget for the month ended on March 31 for Gado Company. The budget should show expected cash receipts and cash disbursements for the month of March and the balance expected on March 31. Print GADO COMPANY Cash Budget For Month Ended March 31 Total cash available Cash payments for Total cash payments 9 Exercise 22-18 Budgeted cash receipts LO P2 1 points Jasper Company has sales on account and for cash. Specifically, 60% of its sales are on account and 40% are for cash. Credit sales are collected in full in the month following the sale. The company forecasts sales of $529,000 for April, $539,000 for May, and $564,000 for June. The beginning balance of Accounts Receivable is $296,400 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and June. eBook April May June Cash sales 40% Hint Sales on account 60% Total sales Print JASPER COMPANY Schedule of Cash Receipts For pril, May, and June April May June Cash receipts from: Cash sales Collection of accounts receivable Total budgeted cash receipts 10 Exercise 22-19 Budgeted cash payments LO P2 1 points Zisk Co. purchases raw materials on account. Budgeted purchase amounts are: April, $82,000; May, $112,000; and June, $122.000. Payments are made as follows: 70% in the month of purchase and 30% in the month after purchase. The March 31 balance of accounts payable is $24,000. Prepare a schedule of budgeted cash payments for April, May, and June. eBook April May June 70% Print Current month purchases Ending accounts payable Total purchases 30% Zisk Co. Schedule of Cash Payments For April, May, and June April May June Cash payments for: Current month purchases Prior month purchases Budgeted cash payments for materials