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please put it in order so i can understand how you did it Nov 120,000 90,000 Dec 120,000 90,000 Sales Expenses Taxes Dividends Jan 140,000
please put it in order so i can understand how you did it
Nov 120,000 90,000 Dec 120,000 90,000 Sales Expenses Taxes Dividends Jan 140,000 105,000 Feb 160,000 120,000 25,000 March 170,000 127,500 20,000 Collections 60% of sales are expected to be cash sales 25% of sales are expected to be credit sales and collected in the month after sale 15% of sales are expected to be credit sales and collected in the second month after sale . Payments 40% of selling and administrative expenses are expected to be paid in the month of the expense 60% of selling and administrative expenses are expected to be paid in the month after the expense The cash balance on January 1 is $40,000 Required Complete the following chart by calculating cash collections, cash payments and the ending cash balance for January, February and March. February March January 40,000 Begin Cash Collections Payments Ending CashStep by Step Solution
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