Reference no: EM13932690
Fielding Wilderness Outfitters had projected its sales for the first six months of 2008 t be as follows: Jan.$50,000, Feb $60,000, March$100,000, April $180,000, May $240,000, June $240,000 Cost of goods sold is 60%of sales. Purchases are made and paid for two months prior to the sale. 40%of sales are collected in the month of the sale, 40% are collected in the month following the sale, and the remaining 20% in the second month following the sale. Total other cash expenses are $40,000/month. The company's cash balance as of March 1st, 2008 is projected to be $40,000, and cash will be used to retire short-term borrowing (if an exists). Fielding has o short-term borrowing as of March 1st, 2008. Assume that the interest rate on short -term borrowing is 1% per month. What is Fielding's projected total receipts (collections) for April? a.$36,000, B. $124,000, C.-$4,000,D $180,000
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: Fielding Wilderness Outfitters had projected its sales for the first six months of 2008 t be as follows: Jan.$50,000, Feb $60,000, March$100,000, April $180,000, May $240,000, June $240,000 Cost of goods sold is 60%of sales. Assume that the interest ..
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