o T-Mobile 8:14 AM . ee MyBusinessCourse eBook/... QUESTION Cash Budget Panrick's Retail Company is planning a cash budiget for the reet three months. Estimated sales revenue is as lows llsales are on credit: 60 percent is collected during the month of sale, and 40 percent is colected during the eet moneh Cost of goods sold is 80 percent of sales Payments for merchandise seld are made in the month following the month ofsale. Operaing expenses ootal $52.000 per month and are paid daring the marth, incurred The cash balance on February 1 is estrated to be 35.000 Prepare monthly cash budgets for February, March, and Apri Use negative signs only with beginning and ending cash balances, when appropriate. De nat use negative signs with Cash Budgets Canh balance begning Cash balance endig Cash Budget The waiams Supply Company sells or s40one product tha"purchases for S25 Budgeted sales u.total dollars for 1,400 000. The sales information needed for preparing the july budiget folows year are Account balances ar July 1 include these The company pays tor one-hal of its purchases in the month of purchase and the remainder in the fllowing monh End-ef mon nvenbary must be S0 pencent of the budgeted sales in units for the nest month A 2 penent cash discount on sales is allowed payment is made during the menth of sale Experience indicates that 30 percent of the biling will be collected during the month of sale, 40 percent in the folowing month, 8 percent in the second following maeh and 2 percene will be uncolectible Total budgeted se ng and administrative expenses festhadire bad debts) for the fscal year are est mated at $21.00. gfwhich onehar fixed expense Ginclusive of a521,000anual depreciation chargel Fxed expenses are incurred evenly during the year. The other seling and administrative expenses vary with sales. Expenses are paid during the monh incurred. (Round your answers to the neanest hl number) a) Prepare a schedie of estimated cash coletions for af Cash Collections o T-Mobile 8:14 AM . ee MyBusinessCourse eBook/... QUESTION Cash Budget Panrick's Retail Company is planning a cash budiget for the reet three months. Estimated sales revenue is as lows llsales are on credit: 60 percent is collected during the month of sale, and 40 percent is colected during the eet moneh Cost of goods sold is 80 percent of sales Payments for merchandise seld are made in the month following the month ofsale. Operaing expenses ootal $52.000 per month and are paid daring the marth, incurred The cash balance on February 1 is estrated to be 35.000 Prepare monthly cash budgets for February, March, and Apri Use negative signs only with beginning and ending cash balances, when appropriate. De nat use negative signs with Cash Budgets Canh balance begning Cash balance endig Cash Budget The waiams Supply Company sells or s40one product tha"purchases for S25 Budgeted sales u.total dollars for 1,400 000. The sales information needed for preparing the july budiget folows year are Account balances ar July 1 include these The company pays tor one-hal of its purchases in the month of purchase and the remainder in the fllowing monh End-ef mon nvenbary must be S0 pencent of the budgeted sales in units for the nest month A 2 penent cash discount on sales is allowed payment is made during the menth of sale Experience indicates that 30 percent of the biling will be collected during the month of sale, 40 percent in the folowing month, 8 percent in the second following maeh and 2 percene will be uncolectible Total budgeted se ng and administrative expenses festhadire bad debts) for the fscal year are est mated at $21.00. gfwhich onehar fixed expense Ginclusive of a521,000anual depreciation chargel Fxed expenses are incurred evenly during the year. The other seling and administrative expenses vary with sales. Expenses are paid during the monh incurred. (Round your answers to the neanest hl number) a) Prepare a schedie of estimated cash coletions for af Cash Collections