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The Houdini Magic Shoppe has forecast its sales and purchases for the last 4 months of 2020. Sales are as follows (September to December): 2100,

image text in transcribed The Houdini Magic Shoppe has forecast its sales and purchases for the last 4 months of 2020. Sales are as follows (September to December): 2100, 1200, 2400, 2800 Purchases are as follows (September to December): 1500, 1800, 2700, 1700 Sixty percent of sales are on credit, while the rest are cash sales. On the basis of past experience, 40% of the accounts receivable are collected the month after the sale and 60% are collected 2 months after the sale. Purchases are paid the month following the purchase. The firm has a cash balance of $5,000 on hand as at October 1, and has a minimum required cash balance of $4,000. Enter the following information: Credit Sales for November? =| Cash Inflow for December?= Cash Outlfow for November?= Net Cash Flow for December? Ending Cash Balance for November?=1 20 of 21 Next >

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