Reference no: EM133168202
Question - The following projected 2022 figures were provided to you by the Marikit Company for analysis:
Sales (80% on credit) P8,872,500
Cost of goods sold 3,629,585
Operating expenses 1,822,420
Non-cash charges included in Cost of goods sold P220,500
Operating expenses 88,725
The company operates on a five working days per week or 260-days per year.
Required -
a. Minimum cash balance for two weeks?
b. Average collection period if the accounts receivable on the average amounted to P443,625?
c. If receivable turnover is expected to increase by 15%, how much will average receivable be.
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