Prepare a schedule of cash collections from sales for August

Assignment Help Accounting Basics
Reference no: EM132881815

Problem - Office Universe Supplies Inc. has "cash and carry" customers and credit customers. Office Universe estimates that 25% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 20% pay their accounts in the month of sale, while the remaining 80% pay their accounts in the month following the month of sale. Projected sales for the next three months of 2012 are as follows:

August $120,000

September 150,000

October 220,000

The Accounts Receivable balance on July 31, 2012, was $80,000.

Required - Prepare a schedule of cash collections from sales for August, September, and October.

Reference no: EM132881815

Questions Cloud

Does a person in need of organ transplant have moral right : Does a person in need of an organ transplant have a moral right to obtain that transplant, supposing the availability of the needed organ?
What is the most important factor in establishing strategic : What is the most important factor in establishing strategic hr in a business that is not making a profit?
What additional challenges do you foresee affecting hrd : Which challenges to HRD professionals must discussed in chapter will directly affect your present or future working environment?
Identify the clinical problem : Identify the clinical problem and how it can result in a positive patient outcome. Review your problem or issue and the study materials to formulate a PICOT.
Prepare a schedule of cash collections from sales for August : The Accounts Receivable balance on July 31, 2012, was $80,000. Prepare a schedule of cash collections from sales for August, September, and October
Evaluation for a customer service training program : Using the 4 variables that define the COMA model, develop one survey question for each variable that could be used as part of an end of course evaluation for a
What are the clinical manifestations of the selected sti : What are the clinical manifestations of the selected STI? What is the treatment for the selected STI? What is the pathophysiology of one STI
Discuss the merger firm expected cash benefit : Discuss the firm (merger - stable firm/acquisition - purchasing firm) expected cash benefit. Pretend you are the owner; would you make the same decision?
Explain the increasing number of women : Explain the increasing number of women who choose not to have children? If they do not plan to have children, then certainly do not need a financially stable

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd