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Question 8: (3 pts) The following are figures from the budget of Kinkos, Inc., for the Third quarter of 2000: July 374,400 148,900 August 349,500 169,300 September 420,500 200,300 Credit sales Credit purchases Cash disbursements: Wages, taxes, and expenses Interest 54,340 70,300 75,170 12,580 12,580 12,580 Equipment purchases 88,800 135,000 The company predicts that 5% of its credit sales will never be collected, 35% of its sales will be collected in the month of the sale, and the remaining 60% will be collected in the following month. Credit purchases will be paid in the month following the purchase. In June 2000, credit sales were $235,000 and credit purchases were $161,300 a. fill in this table based on the available information above: I le.com/u/1/c/MTE5NTQ0ODgzNTg5/a/MTI5Mzc5ODCOMTg0/details Uncollected credit sales Collected in the month of the sale Collected in the following month Previous month credit sales Previous month credit purchases Beginning cash b. Using the given information, complete the following cash budget: July August September Beginning cash balance Cash receipts Cash collections from credit sales Total cash available Cash disbursements Purchases Wages, taxes, and expenses Interest Equipment purchases Total cash disbursements I Question 8: (3 pts) The following are figures from the budget of Kinkos, Inc., for the Third quarter of 2000: July 374,400 148,900 August 349,500 169,300 September 420,500 200,300 Credit sales Credit purchases Cash disbursements: Wages, taxes, and expenses Interest 54,340 70,300 75,170 12,580 12,580 12,580 Equipment purchases 88,800 135,000 The company predicts that 5% of its credit sales will never be collected, 35% of its sales will be collected in the month of the sale, and the remaining 60% will be collected in the following month. Credit purchases will be paid in the month following the purchase. In June 2000, credit sales were $235,000 and credit purchases were $161,300 a. fill in this table based on the available information above: I le.com/u/1/c/MTE5NTQ0ODgzNTg5/a/MTI5Mzc5ODCOMTg0/details Uncollected credit sales Collected in the month of the sale Collected in the following month Previous month credit sales Previous month credit purchases Beginning cash b. Using the given information, complete the following cash budget: July August September Beginning cash balance Cash receipts Cash collections from credit sales Total cash available Cash disbursements Purchases Wages, taxes, and expenses Interest Equipment purchases Total cash disbursements