Budgetnd se l on account 500,000 700,000 240,000 1 440 000 room past egerience.t

Question

Budgetnd se l on account 500,000 700,000 240,000 1 440 000 room past egerience.tre tompam hn kam d Bul 20% tt a mentsnaes ae oleded-th" noth of sale, tobor 60% sre collected in the month folong sale, and the semanng 20% ar etteeted in lhe second month Solowing sale Bad debls are neglyble and can be ignored February sales tolaied 430 000, and March sales tofaled $460 000 Required 1 Prepare a schedue of expecled cah oetions from sales, by month and n total for the second quarer May sales June sale 2 Assume thut he cemrre a 30 To tal accounts recenoble °Type here to search

Explanation / Answer

1 Silver Company Shedule of expected cash collection Particulars April $ May $ June $ Total February Sales                86,000                86,000 March Sales(460000*60% and 20%)             276,000                  92,000             368,000 April Sales             100,000               300,000             100,000             500,000 May Sales               140,000             420,000             560,000 Jun Sales                48,000                48,000 Total Cash Collection             462,000               532,000             568,000          1,562,000 2 Accounts Receivables May Sales(=700000*0.2)             140,000 Jun Sales(=240000*0.2)             192,000 Total Accounts Receivables             332,000

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