Assume Norestron prepares budgets quarterly. The following information is available for use in planning the second quarter budgets for one of its stores in thousands) NORDSTROM Balance Sheet March 31 Assets Liabilities and Stockhokers Equity $2525 We church abe 32.400 Con scc.ble 2015 DM C 710 300 Shutty line: Free 3,000 Totalt 111,115 Toralisis y $11,118 Actual and forecasted sales for selectec months in the upcoming year are as follows: Month in thousands Sales Revenue January $2.000 12 Chry 3 Warch April 2.600 MY Un 100 11 1.10 Bunun Montily operating expenses are as folos We Depreca 23 dering 53 Chrn Cosh dividends for the store at 5713thaugand are declared during the third month at each quarter and are paid during the first month of the following quarter. Operating expenses, ccept insurance, rere and dearcation are paid as incurred. The proped insurance is for five more months. Cost of goods sold is equal to 60% of sales. Encing mentories are sufficient for 150# of the next month's cos of sales. Purchases during any given month are paid in ful during the folosing month. Cash sales account for 50% of the revenus. Of the credit ses. 60% are collected in the next month and 40% are collected in the men alle Moneycon be burroned eru repaid in mm tiples of $100 thouser der interest rate of 12 fe year. The company des res a minimum castiolarce of 2 millioner the first of each month. Allie time the principalis repaid, interest is paid on the portion of principal that is read. All boring is at the beginning of the month, and alrepayment is at the end of the month Marey is never repaid at the end of the month is bored Part A Par: Part Par Part Part F ibi Prepare a cash receipts schedule for esch month of the second quarter ending June 30. Da not include barrawings. NORDSTROWS Schedule of Monthly Cash Receipts (in thousands) Quarter Endine June April May June Total Tills 5 Check Assume Norestron prepares budgets quarterly. The following information is available for use in planning the second quarter budgets for one of its stores in thousands) NORDSTROM Balance Sheet March 31 Assets Liabilities and Stockhokers Equity $2525 We church abe 32.400 Con scc.ble 2015 DM C 710 300 Shutty line: Free 3,000 Totalt 111,115 Toralisis y $11,118 Actual and forecasted sales for selectec months in the upcoming year are as follows: Month in thousands Sales Revenue January $2.000 12 Chry 3 Warch April 2.600 MY Un 100 11 1.10 Bunun Montily operating expenses are as folos We Depreca 23 dering 53 Chrn Cosh dividends for the store at 5713thaugand are declared during the third month at each quarter and are paid during the first month of the following quarter. Operating expenses, ccept insurance, rere and dearcation are paid as incurred. The proped insurance is for five more months. Cost of goods sold is equal to 60% of sales. Encing mentories are sufficient for 150# of the next month's cos of sales. Purchases during any given month are paid in ful during the folosing month. Cash sales account for 50% of the revenus. Of the credit ses. 60% are collected in the next month and 40% are collected in the men alle Moneycon be burroned eru repaid in mm tiples of $100 thouser der interest rate of 12 fe year. The company des res a minimum castiolarce of 2 millioner the first of each month. Allie time the principalis repaid, interest is paid on the portion of principal that is read. All boring is at the beginning of the month, and alrepayment is at the end of the month Marey is never repaid at the end of the month is bored Part A Par: Part Par Part Part F ibi Prepare a cash receipts schedule for esch month of the second quarter ending June 30. Da not include barrawings. NORDSTROWS Schedule of Monthly Cash Receipts (in thousands) Quarter Endine June April May June Total Tills 5 Check
