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The Houdini Magic Shoppe has forecast its sales and purchases for the last 4 months of 2 0 2 0 . Sales are as follows
The Houdini Magic Shoppe has forecast its sales and purchases for the last months of
Sales are as follows September to December:
Purchases are as follows September to December:
Sixty percent of sales are on credit, while the rest are cash sales. On the basis of past experience, of the accounts receivable are collected the month after the sale and are collected months after the sale.
Purchases are paid the month following the purchase. The firm has a cash balance of $ on hand as at October and has a minimum required cash balance of $
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?
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