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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): 1800,
The Houdini Magic Shoppe has forecast its sales and purchases for the last 4 months of 2020, Sales are as follows (September to December): 1800, 1400,2400, 2700 Purchases are as follows (September to December: 1700, 1600, 2700, 1700 sory 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 Crest Sales for November Cashindow for December Cash Outlow for November? Net Cash Flow for December? Enong Cash Balance for November
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