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Tractor trailer (Please show all work so I may understand, thank you) Exercise 8 Referring to the following information, answer questions 1-4 Tractor Trailer Company
Tractor trailer (Please show all work so I may understand, thank you)
Exercise 8 Referring to the following information, answer questions 1-4 Tractor Trailer Company has the following information Month Budgeted Sales April $154,000 May $160,000 June $142,000 July $136,000 Budgeted Expenses per month are: Wages $28,000 Advertising $27,200 Depreciation $19,000 Rent $20,400 Freight Out (S&A Expense) 20% of Sales Other 8% of Sales Note: All cash expenses are paid when incurred. Cash is collected from customer in the following manner: Month of Sale 30% Mo following Sale 50% 2 mos following sale 18% Not Collected 2% The beginning cash balance on April 1st is $35,000, cash anticipated to be collected in April from prio month's sales is $145,000. The total cash disbursements for May are: Answer $121,000 $139,400 $140,000 $120,400 Total Cash collected in June is Answer $150,320 $42,600 $107,720 $125,000 The total cash collected for May from May sales is Answer $48,000 $80,000 $93,096 $42,600 The ending cash balance as of April 30th is Answer $88,480 $105,800 $40,600 $107,480Step by Step Solution
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