Reference no: EM132543547
Question - Winter Company, a manufacturer of leather bags had the following budgeted information for October 2019:
1. October 1 cash balance R3 500
2. Expected sales 2 500 units at R25 each (half in cash, remainder on credit due in November)
3. Inventory purchases 3 000 units at R14 each (all in cash)
4. Rent R1 450
5. Payroll R1 000
6. Utilities and other costs R4 500
Required - Accounts receivable balance Oct. 1, R35000 (includes R700 bad debts allowance; use this amount for both parts 1 and 4.
Calculate the following -
1. What is the budgeted collection on accounts receivables for October?
2. What are the total cash disbursements for October?
3. What is the ending cash balance for October?
4. Assuming sales are collected 75% in the month of sale and 25% the following month, what is the ending cash balance for October?
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