2. Notes Payable Worksheet Cash and Accounts Receivable Collections: Cash: 10% immediately Accounts Receivables: 87% within 30 days Total Cash Collections from Sales Interest Income (+) or Expense () Net Revenues Expenses or COGS: 80% of Sales Paid Immediately 40% Accounts Payable: 30 days: 60% Incomplete Administrative Expenses: 10\% of COGS Total Expenses Incomplete Net Income Incomplete Begin. Cash and Marketable Securities 60,000 Ending Cash and MS Balance 40,000 -Minimum Operating Cash (MOC) 150,000 Excess Funds ( + ) .036/12 Needed Funds (-) .06/12
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
2. Notes Payable Worksheet Cash and Accounts Receivable Collections: Cash: 10% immediately Accounts Receivables: 87% within 30 days Total Cash Collections from Sales Interest Income (+) or Expense () Net Revenues Expenses or COGS: 80% of Sales Paid Immediately 40% Accounts Payable: 30 days: 60% Incomplete Administrative Expenses: 10\% of COGS Total Expenses Incomplete Net Income Incomplete Begin. Cash and Marketable Securities 60,000 Ending Cash and MS Balance 40,000 -Minimum Operating Cash (MOC) 150,000 Excess Funds ( + ) .036/12 Needed Funds (-) .06/12 