Question
The Page Antique Mall expects to make purchases in the first quarter of 2021 as follows: January $110,200 February 139,200 March 98,600 Purchases in December
The Page Antique Mall expects to make purchases in the first quarter of 2021 as follows:
January | $110,200 | |
February | 139,200 | |
March | 98,600 |
Purchases in December 2020 are expected to be $106,000. The company expects that 50 percent of a months purchases will be paid in the month of purchase and 50 percent will be paid in the following month. Estimate cash disbursements related to purchases for each month of the first quarter of 2021.
Collection of credit sales | January | February | March | ||
Collection of December sales | $enter a dollar amount | $enter a dollar amount | $enter a dollar amount | ||
Collection of January sales | enter a dollar amount | enter a dollar amount | enter a dollar amount | ||
Collection of February sales | enter a dollar amount | enter a dollar amount | enter a dollar amount | ||
Collection of March sales | enter a dollar amount | enter a dollar amount | enter a dollar amount | ||
$enter a total dollar amount | $enter a total dollar amount | $enter a total dollar amount |
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