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can i have some assistance please! its time sensitive will give thunbs up Lucky Food Stores wishes to prepare a cash budget for the month
can i have some assistance please! its time sensitive will give thunbs up
Lucky Food Stores wishes to prepare a cash budget for the month of April, 2022. Total Sales for February (actual), March and April (estimated) are as follows: Month February March April Total Sales $48,000 40,000 45,000 The total budgeted purchases (paid entirely in cash) for April is $22,000. The expenses for April are expected to be $9,500 including $1,000 for depreciation on machinery. All sales are on credit, and the company's experience shows that, on the average, 80 percent of sales are collected in the month of sale, 15% on the month following sale and the balance two months after sale. Calculate the budgeted cash collections for April 2022. 1 POINT Enter and wine I Lucky Food Stores wishes to prepare a cash budget for the month of April, 2022. Total Sales for February (actual), March and April (estimated) are as follows: Month Total Sales February $48,000 March 40,000 April 45,000 The total budgeted purchases (paid entirely in cash) for April is $22,000. The expenses for April are expected to be $9,500 including $1,000 for depreciation on machinery. All sales are on credit, and the company's experience shows that, on the average, 80 percent of sales are collected in the month of sale, 15% on the month following sale and the balance two months after sale. Calculate the budgeted cash expenses for April 2022. 1 POINT Step by Step Solution
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