The vice president of marketing prepared the following forecast for the last quarter.

jared Company Sales Forecast For the quarter ended December 31, 2022

Month October November December Units 5,000 6,000 5,500 Sales Price x $ 20 x $ 20 x $ 20 $ 100,000 $ 120,000 $ 110,000

The accounts receivable manager indicated that ten (10) percent to all sales are in cash; fifteen (15) percent are collected in the month of the sale; sixty (60) percent are collected one month after the sale, and fourteen (14) percent are collected two months after the sale. The remaining amounts are assumed to be uncollectible. The beginning balance in account receivable consisted of $ 64,800 from September and $ 10,000 from August.

Required: Prepare the cash collection schedule for the fourth quarter. Calculate the uncollectible accounts expense.

The vice president of marketing prepared the following forecast for the last quarter.

jared Company Sales Forecast For the quarter ended December 31, 2022 Month October November December Units 5,000 6,000 5,500 Sales Price x $ 20 x $ 20 x $ 20 $ 100,000 $ 120,000 $ 110,000

The inventory manager of jared Company estimates that the ending balance should equal twenty (20) percent of the next months sales requirement.

Assume that there are 1,800 units on hand on September 30.

[2] Required: Calculate the purchases (in dollar amounts) for November. Assume that each unit costs $ 6.00.

Management has established a line of credit with a local bank that requires all borrowing to commence at the beginning of the month and all repayments to be at the end of the month plus three (3) percent interest on the portion repaid. Any borrowing or repayment must be made in multiples of $ 10,000. [The minimum cash balance needs to be $ 10,000.]

Company
Cash Receipts and Disbursements
April, May, and June
		April		May		June
Cash beginning balance		$ 10,000		$________		$________
Total Cash Collections		225,000		289,600		328,300
Total Cash Available		$ 235,000		$ ______		$ _______
Cash Payments for
Direct Materials		$ 125,000		$ 181,000		$ 186,000
Direct Labor		34,000		63,000		66,000
Overhead		28,000		24,000		25,000
Selling and Administrative Expenses		16,000		17,000		19,000
Insurance		50,000
Dividends						30,000
Minimum Cash Balance		10,000		10,000		10,000
Total Cash Requirement		$ 263,000		$ 295,000		$ 336,000
Excess (Deficit)		($28,000)

please answer all three questions as one