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please help Question 9 2 pts Use the following information for the next 10 questions. The expected sales for Sullivan Swimsuits in the month of
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Question 9 2 pts Use the following information for the next 10 questions. The expected sales for Sullivan Swimsuits in the month of June are $40,000. Brenda, the owner, gives credit to a select group of customers (40 percent of sales), but all others must pay cash. 75 percent of Brenda's credit customers pay her the month after the sale, 20 percent pay the second month following the sale and 5 percent pay in the third month following the sale. Brenda pays cash for 15 percent of her purchases. The other 85 percent she pays off by the end of the next month. Brenda's operating expenses are paid immediately upon receiving the invoice. Her operating expenses are about $5,000 each month, $500 of which is depreciation. Selling expenses have a fixed and a variable component. The fixed is $1,000 month, and the variable is 5 percent of sales. Brenda began June with $10,000 in cash. DO NOT USE $ OR CENTS. USE COMMA'S What is the beginning balance of Cash for June? Sales Purchases April $20,000 $14,000 May 30,000 17,000 June 40,000 23,000 Question 10 How much cash was collected in June from April sales? Question 11 How much cash was collected in June from May sales? Question 12 How much cash was collected in June from June sales? Question 13 How much cash was paid in June for May purchases? Question 14 How much cash was paid in June for June purchases? Question 15 How much in operating expenses were PAID in June? Question 16 How much were the fixed selling expenses for June? Question 17 How much were the variable selling expenses for June? Question 18 What was Brenda's ending cash balance at the end of JuneStep by Step Solution
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