P4-8 (similar to) Question Help Cash receipts A firm has actual sales of $64,000 in...
70.2K
Verified Solution
Link Copied!
Question
Finance
P4-8 (similar to) Question Help Cash receipts A firm has actual sales of $64,000 in April and $59,000 in May. It expects sales of $65,000 in June and $102,000 in July and in August. Assuming that sales are the only source of cash inflows and that half of them are for cash and the remainder are collected evenly over the following 2 months, what are the firm's expected cash receipts for June, July, and August? Complete the cash receipts table below: (Round to the nearest dollar.) April May June July August 102,000 Sales $ 64,000 $ 59,000 $ 65,000 $ 102,000 $ Cash sales $ $ $ $ $ Collections: $ $ $ $ Lag 1 month Lag 2 months $ $ $ Total cash receipts $ $ $
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: Flex AI - Your personal assistant for all your inquiries!
