Baker Manufacturing has projected sales of: May $9,000 June $10,000 July $9000 A

Question

Baker Manufacturing has projected sales of:

May $9,000

June $10,000

July $9000

August $15,000

September $10,000

Of these credit sales, 70% are collected the month after the sale and 30% are collected the second month after the sale.

Baker Manufacturing also projects its actual cash payments for each month as follows:

July $8,000

August $9,000

Septemeber $9,000

Baker's beginning cash balance on July 1 is $2,000

A. Prepare a Monthly Cash Receipt Schedule for July, AUgust and Septemeber (In a table & show work)

B. Prepare a Monthly Cash Flow Schedule for July, August and September (In a table & show work)

C. Prepare a Cash Budger (no loans currently exist) for July, August, and Septemeber

All in Tables please

Explanation / Answer

1)   Cash Receipt Schedule (Amounts in $)

b) Cash Flow Schedule (Amounts in $

c) Cash Budget (Amounts in $)

Particulars July August September Cash Receipts for the month of : May (70% in month after sale and 30% in the second month after sale) 2,700 - - June 7,000 3,000 - July - 6,300 2,700 August - - 10,500 Total Cash Receipts 9,700 9,300 13,200

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