Based on the information below, find cash available at the end of March For your...
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Accounting
Based on the information below, find cash available at the end of March
For your answer. Do not use the dollar sign, do not use decimals, periods or commas. Round to the next unit.
UR Business is working on its budgets for the first quarter of 2022 -January March. The following are the estimated sales for that period with a beginning cash balance of $ 10,000.
January
February
March
Revenue
$612.300
$736.470
$797.400
Cost of Sales
$164.349
$167.936
$167.238
Commissions
$173.158
$181.215
$177.957
Rent
$15.000
$15.000
$15.000
Depreciation
$35.000
$35.000
$35.000
The sales pattern is 25% cash sales and 75% credit sales. Collections are done the next month.
Monthly expenses are as follow:
The cost of sales is 80% in the current month and the reminder paid in the following month.
Commissions are with 70% of the money paid in the month of sale, and the balance being paid for accounts payable in the following month.
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