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Please answer the following correctly please 4. Parson Corporation, a wholesaler, provided the following information: Month January February March April May Merchandise Purchases $ 151,000
Please answer the following correctly please
4. Parson Corporation, a wholesaler, provided the following information: Month January February March April May Merchandise Purchases $ 151,000 157,000 145,000 163,000 169,000 Sales $190,000 184,000 183,000 196,000 184,000 Customers pay 65% of their balances in the month of sale, 25% in the month following sale, and 10% in the second month following sale. The company pays all invoices in the month following purchase. Cash payments for operating expenses in May will be $124,000: Parson's cash balance on May 1 was $136,800. Required: A. Determine the expected cash collections during May. B. Determine the expected cash disbursements during May. C. Determine the expected cash balance on May 31Step by Step Solution
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