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How much will be the cash balance at the end of Quarter

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Question - The XYZ Company specializes in homemade chocolates and receives all income from sales. The sales revenue estimates (in million S) for the company arc at follows: Q1 = 500. Q2 = 550. Q3 = 600. QA = 650. Q1 of next year = 650. The average collection period for accounts receivables is 30 days. Beginning receivable« (Q1 beginning) is $250 million. The purchases arc 50% of next quarter sales Beginning payables (Ql beginning) is SI50 million. The accounts payable period is 30 days. Wages and oilier expenses every quarter arc 30% of the sales revenue of that quarter There are no other expenses The beginning cash balance (Q1 beginning) is $30 million How much will be the cash balance at the end of Quarter 3?

Reference no: EM133053718

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