Prepare cash receipts schedule

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Reference no: EM131979214

Parker's Landscaping has projected sales as follows:

September: $30,000

October: $50,000

November: $30,000

December: $20,000

Experience shows that 40% of Sales are for Cash with 60% of Sales on credit. 50% of current month credit sales are collected in the month following the sale and the balance(50% of the credit sale) is collected 2 months after the sale. Cash disbursements projected for November=$25,000 and $15,000 for December. The Cash balance at the beginning of November = $15,000 Prepare a Cash Budget for November and December. (Prepare a Cash Receipts Schedule first)

1. Prepare a Cash Receipts Schedule-Schedule the months of Sept, Oct, Nov and December

2. Prepare Cash Budget for November and December showing the ending Cash balance. Remember, Beginning Cash for Nov 1 is $15,000.

Reference no: EM131979214

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