QS 22-20 Cash receipts, with uncollectible accounts LO P2 The Guitar Shoppe reports the following sales forecast: August, $120,000: September, $190,000. Total sales include 35% cash sales, 50% credit sales collected in the month following sale, and 15% credit sales written off as uncollectible. Prepare a schedule of cash receipts for September. THE GUITAR SHOPPE Cash Receipts Budget For Month Ended September 30 Cash receipts from August sales Cash receipts from September sales Total budgeted cash receipts QS 22-23 Budgeted loan activity LO P2 Santos Co. is preparing a cash budget for February. The company has $14,000 cash at the beginning of February and anticipates $74,000 in cash receipts and $117,000 in cash disbursements during February. What amount, if any, must the company borrow during February to maintain a $6,000 cash balance? The company has no loans outstanding on February 1. (Negative cash balances, if any, should be indicated with minus sign.) SANTOS CO. Cash Budget For Month Ended February 28 Beginning cash balance Total cash available Preliminary cash balance Ending cash balance QS 22-24 Manufacturing: Cash budget LO P2 Use the following Information: a. Beginning cash balance on March 1, $75,000. b. Cash receipts from sales, $310,000. c. Budgeted cash payments for direct materials. $139,000 d. Budgeted cash payments for direct labor $73,000. e. Other budgeted cash expenses, $36,000. f. Cash repayment of bank loan, $18,000. sh payments for $36.00 Prepare a cash budget for the month ended on March 31 for Gado Company. The budget should show expected cash receipts and cash disbursements for the month of March and the balance expected on March 31. GADO COMPANY Cash Budget For Month Ended March 31 Total cash available Cash payments for Total cash payments Exercise 22-18 Budgeted cash receipts LO P2 Jasper Company has sales on account and for cash. Specifically, 55% of its sales are on account and 45% are for cash. Credit sales are collected in full in the month following the sale. The company forecasts sales of $531,000 for April, $541,000 for May, and $566,000 for June. The beginning balance of Accounts Receivable is $307,500 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and June. April May June 45% Cash sales Sales on account Total sales 55% JASPER COMPANY Schedule of Cash Receipts For April, May, and June April May Cash receipts from Cash sales Collection of accounts receivable Total budgeted cash receipts