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please help urgently!!!! The Houdini Magic Shoppe has forecast its sales and purchases for the last 4 months of 2020 Sales are as follows (September
please help urgently!!!!
The Houdini Magic Shoppe has forecast its sales and purchases for the last 4 months of 2020 Sales are as follows (September to December): 2200, 1300, 2200, 2900 Purchases are as follows (September to December): 1700, 1800, 2800, 1900 Sixty percent of sales are on credit while the rest are cash sales. On the basis of past experience, 40% of the accounts receivable are collected the month after the sale and 60% are collected 2 months after the sale. Purchases are paid the month following the purchase. The firm has a cash balance of $5,000 on hand as at October 1, and has a minimum required cash balance of $4,000. Enter the following information Credit Sales for November? = 1320 Cash Inflow for December? Cash Outifow for November? Net Cash Flow for December? Ending Cash Balance for November? =Step by Step Solution
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