Solution-How shanghai enterprises would go about

How shanghai enterprises would go about constructing

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Reference no: EM132674863

Shanghai Enterprises has asked for your assistance in preparing a cash budget for the month of December 2020 and has provided projected sales revenue data below:

Projected sales:
October 2020	$144,000
November 2020	$205,000
December 2020	$220,000

All sales are on credit with 65% collected during the month of sale, 18% collected during the month following the sale, 15% during the second month after the sale and 2% uncollectable.

Required:

Problem a) Prepare the cash receipts section of a cash budget for Shanghai Enterprises for the month of December 2020.

Problem b) Explain how Shanghai Enterprises would go about constructing a cash budget for the first three months of 2021. Note that Shanghai plans to purchase a major piece of equipment costing $500,000 in February 2021.

Reference no: EM132674863

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How shanghai enterprises would go about constructing

Reference no: EM132674863

Reference no: EM132674863

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