a. Prepare a cash receipts schedule for November and December, Peince Charles Taland Company Cash Receipts Shedule September October Sales $ 6000 10000 Credit sales 4800 8000 Cash sales 1200 2000 Collections in the month after credit sales Collections two months after credit sales Total cash receipta November 16000 12800 3200 3200 2880 $ 9280 Decenber 9 12000 9600 2400 5120 4800 12320 b. Prepare a cash budget with borrowing needed or repayments for November and December. (Do not leave any empty spaces: Input a 0 wherever it is required. Amount to be deducted should be indicated with minus sign.) December Prince Charles Island Company Cash Budget November Cash receipt $ Cash payments Not cash flow Beginning cash balance Cumulative cash balance Monthly loan or ropayment) Cumulative loan balance Ending cash balance $ -7X Question 8 - Assignment 3CX 28 Canadian Payroll Association + ducation.com/ext/map/index.html?_con=con&external browser=0&launchurahttps%253A%252F%252Fims.mheduca = (Chapter 4) Saved Help Save & Exit Submit Check my work Prince Charles Island Company has expected sales of $6,000 in September, S10,000 in October, S16,000 in November, and $12,000 in December. Cash sales are 20 percent and credit sales are 80 percent of total sales. Historically, 40 percent of receivables are collected in the month after the sale, and the remaining 60 percent collected two months after. Assume that the company's cash payments for November are $13,000, and December $6,000. The beginning cash balance in November is $5,000, which is the desired minimum balance. a. Prepare a cash receipts schedule for November and December Prince Charles Island Company Cash Receipta Schedule September October Sales $ 6000 10000 Credit sales 4800 8000 Cash sales 1200 2000 Collections in the month after credit salos Collections two months after credit sales Total cash receipts November 16000 12800 3200 3200 2880 $ 9280 December 5 12000 9600 2400 5120 4800 12320 b. Prepare a cash budget with borrowing needed or repayments for November and December. (Do not leave any empty spaces; input a 0 wherever it is required. Amount to be deducted should be indicated with minus sign.) Prince Charles Teland Company Cash Budget November December Cash receipto Cash payments a. Prepare a cash receipts schedule for November and December, Peince Charles Taland Company Cash Receipts Shedule September October Sales $ 6000 10000 Credit sales 4800 8000 Cash sales 1200 2000 Collections in the month after credit sales Collections two months after credit sales Total cash receipta November 16000 12800 3200 3200 2880 $ 9280 Decenber 9 12000 9600 2400 5120 4800 12320 b. Prepare a cash budget with borrowing needed or repayments for November and December. (Do not leave any empty spaces: Input a 0 wherever it is required. Amount to be deducted should be indicated with minus sign.) December Prince Charles Island Company Cash Budget November Cash receipt $ Cash payments Not cash flow Beginning cash balance Cumulative cash balance Monthly loan or ropayment) Cumulative loan balance Ending cash balance $ -7X Question 8 - Assignment 3CX 28 Canadian Payroll Association + ducation.com/ext/map/index.html?_con=con&external browser=0&launchurahttps%253A%252F%252Fims.mheduca = (Chapter 4) Saved Help Save & Exit Submit Check my work Prince Charles Island Company has expected sales of $6,000 in September, S10,000 in October, S16,000 in November, and $12,000 in December. Cash sales are 20 percent and credit sales are 80 percent of total sales. Historically, 40 percent of receivables are collected in the month after the sale, and the remaining 60 percent collected two months after. Assume that the company's cash payments for November are $13,000, and December $6,000. The beginning cash balance in November is $5,000, which is the desired minimum balance. a. Prepare a cash receipts schedule for November and December Prince Charles Island Company Cash Receipta Schedule September October Sales $ 6000 10000 Credit sales 4800 8000 Cash sales 1200 2000 Collections in the month after credit salos Collections two months after credit sales Total cash receipts November 16000 12800 3200 3200 2880 $ 9280 December 5 12000 9600 2400 5120 4800 12320 b. Prepare a cash budget with borrowing needed or repayments for November and December. (Do not leave any empty spaces; input a 0 wherever it is required. Amount to be deducted should be indicated with minus sign.) Prince Charles Teland Company Cash Budget November December Cash receipto Cash payments
