1. You are preparing a cash budget for A&M Inc. for the first quarter of 2012. Y

Question

1. You are preparing a cash budget for A&M Inc. for the first quarter of 2012. You have summarized the following information.
A&M Inc.
Cash Budget Worksheet
First Quarter, 2012
                                                      December      January   
Estimated Sales                                 $825,000      $610,000
Estimated Credit Sales                          750,000 550,000    
Estimated Receipts:
Cash sales 60,000     
Collections of Accounts Receivable
75% of last month 1. You are preparing a cash budget for A&M Inc. for the first quarter of 2012. You have summarized the following information.
A&M Inc.
Cash Budget Worksheet
First Quarter, 2012
                                                      December      January   
Estimated Sales                                 $825,000      $610,000
Estimated Credit Sales                          750,000 550,000    
Estimated Receipts:
Cash sales 60,000     
Collections of Accounts Receivable
75% of last month

Explanation / Answer

1) b. $125,500.

2) c. 21.025%

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