The following information is from Barkley's Auto Alarm Company financial records. Collections from customers are normally 65 percent in the month of sale, 25 percent in the month following the sale, and 9 percent in the second month following the sale. The balance is expected to be uncollectible. All purchases are on account. Management takes full advantage of the 3 percent discount allowed on purchases paid for by the tenth of the following month. Purchases for December are budgeted at $74,000, and sales for December are forecasted at $80,000. Cash disbursements for expenses are expected to be $17,200 for the month of December. The company's cash balance on December 1 was $29,000.
G A ezto.mheducation.com If+# (510) - shereenshang@gmail.com - G. Home - MyLaverne Connect crouse hero - ATkx Bing Homework Help - Q&A from Online Tutors - C... + Final Examination i Saved Help Save & Exit Submit 2 The following information is from Barkley's Auto Alarm Company financial records. Collections from customers are normally 65 percent in the month of sale, 25 percent in the month following the sale, and 9 percent in the second month following the sale. The balance is expected to be uncollectible. All purchases are on account. Management takes full advantage of the 3 percent discount allowed on purchases paid for by the tenth of the following month. Purchases for December are budgeted at $74,000, and sales for December are forecasted at $80,000. Cash disbursements for expenses are expected to be $17,200 for the month of December. The company's 20 cash balance on December 1 was $29,000. points Month Sales Purchases X 02:18:11 August $86 , 000 $56 , 000 September 80, 000 62,000 October 74,000 50,000 November 92 , 000 68, 000 Book Required: A. Prepare the expected cash collections during December. B. Prepare the expected cash disbursements during December. C. Prepare the expected cash balance on December 31. Complete this question by entering your answers in the tabs below. Required A Required B Required C Prepare the expected cash collections during December. Month Expected Collections October November December Total Mc Graw Hill ducation G ezto.mheducation.com If+* (510) - shereenshang@gmail.com - G. Home - MyLaverne Connect crouse hero - ATkx Bing Homework Help - Q&A from Online Tutors - C... + Final Examination i Saved Help Save & Exit Submit Month Sales Purchases August $86,000 $56, 000 2 September 80,000 62, 000 October 74, 000 50 , 000 November 92, 000 68, 000 Required: 20 A. Prepare the expected cash collections during December. points B. Prepare the expected cash disbursements during December. C. Prepare the expected cash balance on December 31. 02:18:05 Complete this question by entering your answers in the tabs below. Required A Required B Required C Book Prepare the expected cash disbursements during December. BARKLEY'S AUTO ALARM COMPANY Expected Cash Disbursements December November purchases to be paid in December Net Cash disbursements for expenses Total Mc Graw Hill ducation G A ezto.mheducation.com If+# (510) - shereenshang@gmail.com - G. Home - MyLaverne Connect crouse hero - EATkx Bing Homework Help - Q&A from Online Tutors - C... + Final Examination i Saved Help Save & Exit Submit are lurecasteu al pov,vvy. Casil uIsbuisemenIts 101 expenses are expected to be $17,ZUVIVI The IIIIII I December. The compally s cash balance on December 1 was $29,000. 2 Month Sales Purchases August $86,000 $56 , 000 September 80, 000 62,000 October 74,000 50, 000 20 November 92,000 68,000 points 02:18:00 Required: A. Prepare the expected cash collections during December. B. Prepare the expected cash disbursements during December. C. Prepare the expected cash balance on December 31. Book Complete this question by entering your answers in the tabs below. Required A Required B Required C Prepare the expected cash balance on December 31. BARKLEY'S AUTO ALARM COMPANY Expected Cash Balance December 31 Balance, December 1 Expected balance LE Mc Graw Hill ducation
