Reference no: EM131202794
The following sales data pertains to the Extron Company:
Budgeted sales $140,000 $160,000 $180,000
25% of sales are for cash and the collection schedule for credit sales follows this pattern:
50% during month sale
35% during the first following month
10% during the second following month
5% uncollectable
Extron requires a minimum ending cash balance of $9,500. Moreover the company predicts a beginning
balance of $12,000 for December. Other December data includes:
Purchases paid at December...................................... $79,500
Selling and Administrative expenses paid at December...... $59,500
Cash dividend paid at December................................. $45,000
Depreciation expenses for December........................... $17,000
How much money does Extron needs to borrow doe the month of December?
A. $13,000
B. $2,500
C. $16,500
D. $13,200
E. None of the above
October November December
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: The following sales data pertains to the Extron Company: Extron requires a minimum ending cash balance of $9,500. Moreover the company predicts a beginning. How much money does Extron needs to borrow doe the month of December?
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