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answer it asp BUD 639 Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The
answer it asp
BUD 639 Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June 30th is shown below act Balance sheet ADD receivable and paint not of pretation Totalt Lishe and Boldera Bully pable Cemek 41.610 112.010 14.250 314,019 36,2 15. 36,000 31110 43.250 Total Tibilities and stockholder ty The company managers have made the following additional assumptions and estimates Estimated sales for August September, and October will be $250.000, 5270.000, 5260.000 and $280,000, respectively 2. Answers are on credit and all credit sales are collected. Each month's credit sales me collected 35% in the month of sale and 65% in the month following the sale. All of the accounts receive a une 30 w be collected in July 3. Each month's ending inventory mint 30% of the cost of next month's sales. The cost of goods sold 75% of sales. The company pays for 40% of its merchandise purchases in the month of the purchase and the remaining on the month following the purchase As of the accounts payable at June 30 will be paid in July 4. Monthly selling and administrative expenses are always $46.000. Each month 55.000 of this total amount is depreciation expense and the remaining $400 as to expenses that are month they are curred. 5. The company does not plan to borrow money or pay or declare dividends during the unter anded September 30. The company does not plan to issue any common stock fourchase its own during the quanerorded September 30, How much the company's expected Accounts Receivable balance on September 30? BUD 639 Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June 30th is shown below act Balance sheet ADD receivable and paint not of pretation Totalt Lishe and Boldera Bully pable Cemek 41.610 112.010 14.250 314,019 36,2 15. 36,000 31110 43.250 Total Tibilities and stockholder ty The company managers have made the following additional assumptions and estimates Estimated sales for August September, and October will be $250.000, 5270.000, 5260.000 and $280,000, respectively 2. Answers are on credit and all credit sales are collected. Each month's credit sales me collected 35% in the month of sale and 65% in the month following the sale. All of the accounts receive a une 30 w be collected in July 3. Each month's ending inventory mint 30% of the cost of next month's sales. The cost of goods sold 75% of sales. The company pays for 40% of its merchandise purchases in the month of the purchase and the remaining on the month following the purchase As of the accounts payable at June 30 will be paid in July 4. Monthly selling and administrative expenses are always $46.000. Each month 55.000 of this total amount is depreciation expense and the remaining $400 as to expenses that are month they are curred. 5. The company does not plan to borrow money or pay or declare dividends during the unter anded September 30. The company does not plan to issue any common stock fourchase its own during the quanerorded September 30, How much the company's expected Accounts Receivable balance on September 30 Step by Step Solution
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