I need help finding the Loan interest paid? Here are all my calculations
January February March 620000 710000 January -SUM(250000*o.2) -SUM (H2*0.6) February March Collections of Account Receivable Sales Revenue 725000 Collections of January Sales Collections of February Sales =SUM(H2*0.3) -SUM(I2*0.6) Merchandise Purchases 440000 470000 590000 SUM(I2*0.3) =SUM(J2*o.6) Cash operating cost Proceeds from sales of equipment 89000 110000 152000 Collections of March Sales 32000 Sale of equipment Total cash callections =J5 =SUM(B2:B3 =SUM(C3:C4) =SUM(D4:D6) All sales are on account. Sixty percent of customer accounts are collected in the month of sale; 30 percent are collected in the following month February March January 83000 Uncollectibles amounting to 10 percent of sales are anticipated, and management believes that only 20 percent of the accounts outstanding on Payments of Account Payable Payment of January Purchases Payment of February Purchases Payment of March Purchases Cash operationg costs Total cash disbursements December 31, 20x0, will be recovered and that the recovery will be in January 20x1 -SUM(H3*0.4) =SUM(I3*0.6) SUM(H3*0.6) Sixty percent of the merchandise purchases are paid for in the month of purchase; the remaining 40 percent are paid for in the month after =SUM(I3*0.4) -SUM(J3*0.6) acquisition The December 31, 20x0, balance sheet disclosed the following selected figures: cash, $85,000; accounts receivable, $250,000; and accounts payable, $83,000. Mary and Kay, Inc. maintains a $85,000 minimum cash balance at all times. Financing is available (and retired) in $1,000 multiples at an 9 percent %3D4 =14 -J4 =SUM(B11:B15) =SUM(D13:D15) SUM(C12:C15) interest rate, with borrowings taking place at the beginning of the month and repayments occurring at the end of the month. Interest is paid at the time of repaying principal and computed on the portion of principal repaid at that time Additional data: February 330 March January 85000 Beginning cash balance Total receipts - -7 B7 =D7 -SUM(B21: B22) Subtotal =SUM(C21:C22) =SUM(D21:D22) =B16 Less: Total disbursements -16 -D16 -23-24 |Cash excess (deficiency) before financing Financing: Borrowing to maintain $85,o00 balance Loan principal repaid Loan interest paid Ending Cash balance B23-B24 =D23-D24 %3D 21-B25 35000 =B27*0.9*(2/12) -SUM(C25-C28-C29) =D25 =B25+B27 January February March 620000 710000 January -SUM(250000*o.2) -SUM (H2*0.6) February March Collections of Account Receivable Sales Revenue 725000 Collections of January Sales Collections of February Sales =SUM(H2*0.3) -SUM(I2*0.6) Merchandise Purchases 440000 470000 590000 SUM(I2*0.3) =SUM(J2*o.6) Cash operating cost Proceeds from sales of equipment 89000 110000 152000 Collections of March Sales 32000 Sale of equipment Total cash callections =J5 =SUM(B2:B3 =SUM(C3:C4) =SUM(D4:D6) All sales are on account. Sixty percent of customer accounts are collected in the month of sale; 30 percent are collected in the following month February March January 83000 Uncollectibles amounting to 10 percent of sales are anticipated, and management believes that only 20 percent of the accounts outstanding on Payments of Account Payable Payment of January Purchases Payment of February Purchases Payment of March Purchases Cash operationg costs Total cash disbursements December 31, 20x0, will be recovered and that the recovery will be in January 20x1 -SUM(H3*0.4) =SUM(I3*0.6) SUM(H3*0.6) Sixty percent of the merchandise purchases are paid for in the month of purchase; the remaining 40 percent are paid for in the month after =SUM(I3*0.4) -SUM(J3*0.6) acquisition The December 31, 20x0, balance sheet disclosed the following selected figures: cash, $85,000; accounts receivable, $250,000; and accounts payable, $83,000. Mary and Kay, Inc. maintains a $85,000 minimum cash balance at all times. Financing is available (and retired) in $1,000 multiples at an 9 percent %3D4 =14 -J4 =SUM(B11:B15) =SUM(D13:D15) SUM(C12:C15) interest rate, with borrowings taking place at the beginning of the month and repayments occurring at the end of the month. Interest is paid at the time of repaying principal and computed on the portion of principal repaid at that time Additional data: February 330 March January 85000 Beginning cash balance Total receipts - -7 B7 =D7 -SUM(B21: B22) Subtotal =SUM(C21:C22) =SUM(D21:D22) =B16 Less: Total disbursements -16 -D16 -23-24 |Cash excess (deficiency) before financing Financing: Borrowing to maintain $85,o00 balance Loan principal repaid Loan interest paid Ending Cash balance B23-B24 =D23-D24 %3D 21-B25 35000 =B27*0.9*(2/12) -SUM(C25-C28-C29) =D25 =B25+B27
