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What are the forecasted september cash payments

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Reference no: EM132551144

Question 1: A company has projected the following sales for the spring quarter of 2014:

April $200,000

May $250,000

June $275,000

65% of all sales are paid for with cash. The remainder is on credit. The pattern for credit receivables collections are:

Month of Sale 60%

Month after sale 30%

Second Month After Sale 10%

What are the credit sales for the spring quarter (all three months)?

a. $190,750

b. $344,750

c. $253,750

d. $308,750

Question 2: A company plans to purchase inventory for the second half of 2014 as follows:

July $100,000

August $75,000

September $225,000

October $125,000

November $250,000

December $30,000

They usually pay 50% of inventory purchases in the month of purchase, 35% in the following month, and 15% in the second month.

Based on this information, what are the forecasted September cash payments?

a. $15,000

b. $26,250

c. $112,500

d. $153,750

Reference no: EM132551144

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