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Slate Traders Ltd. is a wholesaler and retailer of tiles and decorative stone. They sell to age of hardware stores building and landscape supply companies.

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Slate Traders Ltd. is a wholesaler and retailer of tiles and decorative stone. They sell to age of hardware stores building and landscape supply companies. In addition they sell direct to the public. They have provided the following information on their sales, purchases cash payments and cash collections Sales & Revenue Information Sales S3 S3 SS - It is estimated that 20% of the sales are for cash and 80% are on credit -Of the credit sales -50% pay their accounts within the mouth of sale -30% pay in the month after sale -20% pay during the second mother sale Purchases and Payments Information All purchases of inventory are made ce credit and 40% are paid for in the month they are purchased and 60% in the following month . All selling and administrative expenses, including a depreciation charge of 4.000. are incurred at the rate of S12,000 per month Payment is made in the month in which the expense is incurred. - New machinery costing $18.000 will be purchased in June and the payment will be made in the following month Slate Traders has a loan of $360,000. Interest at the rate of 8% per annum is paid quarterly, the next due date for payment is 30 June Opening Bank Balance The balance of the bank account as 30 Jane is $86420 TOTAL tulumunur CAROLIFTS Sales mm dam TEAL CASH PAYMENTS CLOSINCA Slate Traders Ltd. is a wholesaler and retailer of tiles and decorative stone. They sell to age of hardware stores building and landscape supply companies. In addition they sell direct to the public. They have provided the following information on their sales, purchases cash payments and cash collections Sales & Revenue Information Sales S3 S3 SS - It is estimated that 20% of the sales are for cash and 80% are on credit -Of the credit sales -50% pay their accounts within the mouth of sale -30% pay in the month after sale -20% pay during the second mother sale Purchases and Payments Information All purchases of inventory are made ce credit and 40% are paid for in the month they are purchased and 60% in the following month . All selling and administrative expenses, including a depreciation charge of 4.000. are incurred at the rate of S12,000 per month Payment is made in the month in which the expense is incurred. - New machinery costing $18.000 will be purchased in June and the payment will be made in the following month Slate Traders has a loan of $360,000. Interest at the rate of 8% per annum is paid quarterly, the next due date for payment is 30 June Opening Bank Balance The balance of the bank account as 30 Jane is $86420 TOTAL tulumunur CAROLIFTS Sales mm dam TEAL CASH PAYMENTS CLOSINCA

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