Sonora Clothing Company is a retail company that sells hiking and other outdoor

Question

Sonora Clothing Company is a retail company that sells hiking and other outdoor gear specially made for the desert heat. It sells to individuals as well as local companies that coordinate adventure getaways in the desert for tourists. The following information is available for several months of the current year.

The majority of Sonora

Sonora Clothing Company is a retail company that sells hiking and other outdoor gear specially made for the desert heat. It sells to individuals as well as local companies that coordinate adventure getaways in the desert for tourists. The following information is available for several months of the current year.

Explanation / Answer

budgeted cash collection for july

cash collection for july=(130000*70%)+ (130000*30%*40%)+(115000*30%*60%)

91000+15600+20700=127300

cash collection for august=(125000*70%)+(125000*30%*40%)+(130000*30%*60%)

87500+15000+23400=125900

cash collection for july=127300

cash collection for august=125900

b) budgeted cash payment for july=(120000*55%)+(95000*45%)+38250

66000+42750+38250=151500

budgeted cash payment for august=(80000*55%)+(120000*45%)+34700

44000+54000+34700=132700

cash payment for july=151500

cash paymentn for august=132700

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