Question
The following information was available from Metropolitan Corporation's books: Purchases Sales (Rs.) (Rs.) January 2006 42,000 72,000 February 2006 48,000 66,000 March 2006 36,000 60,000
The following information was available from Metropolitan Corporation's books:
Purchases Sales
(Rs.) (Rs.)
January 2006 42,000 72,000
February 2006 48,000 66,000
March 2006 36,000 60,000
April 2006 54,000 78,000
Collection from customers are normally 70% in the month of sales, 20% in the month following sales and 9% in the second month following sales. The balance is expected to be uncollectible. Metropolitan Corporation takes full advantage of 2% discount allowed on purchases while sales for May are forecasted at Rs. 66,000. Cash disbursement for to be Rs. 14,400 for the month of May. Metropolitan's cash balance at May 1 was Rs. 20,000.
Note:
1. No need to enter currency symbol like Rs, $ and so on
2. No need to enter comma between values
3. No need to enter % sign, if answer is in %
4. No need to enter % value in decimal like do not put 0.12 instead of 12.
5. If the answer is in decimal so enter the value in 2 decimal places (2 digits after point)
6. If value come in minus so value should be written in brackets for example (1000)
Please read instruction carefully before enter the value in input box, otherwise teacher will not be responsible for any consequences
a) 1st installment Cash Received b) 2nd installment Cash Received c) 3rd installment Cash Received d) Total Cash inflow e) Total Cash outflow i) Closing Cash
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