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Question - York Industries has planned forinnext Month Budgeted Purchases the following purchases the five months.
June $42,500
July $38,500
August $39,600
September $52,800
October $66,700
This is the established pattern for payment purchases: 15% in the month of purchase, 65% in the following month, and 20% two months after purchase.
York Industries also has the following planned sales over the next five months:
Month Budgeted Sales
June $88,500
July $98,500
August $99,300
September $82,800
October $1,06,800
20% of sales are cash and 80% of sales are credit. Cash sales are collected in the same month as sales and credit sales are collected with the following pattern; 35% in the month of sale, 50% in the month after the sale, and 15% two months after the sale. Operating expenses for each month are $13,000. Assume these expenses are paid for in cash at the end of each month. What is the net cash flow for August and September?
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