Preparing Cash Receipts and Cash Payments Budgets [LO 8-4 Martin Clothing Company is a real company that sells hiking and other outdoor gear specially made for the desert heat. It is to individuals as well as local companies that coordinate adventure getaways in the desert for tourists. The following information is available for several months of the current your Way $ $ Sales 98,000S 119 000 3000 135.000 Purchases 6.000 7 000 118.000 0 000 19.000 27500 2290 Aug
The majority of Martin's sales 70 percent) are cash but a few of the most companies purchase on credit of the credit sales, 35 percent are collected in the month of sale and 65 percent is collected in the following month. All of Martin's purchases are on account with 45 percent paid in the month of purchase and 55 percent paid the following month Required: 1. Determine budgeted cash collections for My and August (Round your intermediate calculations and final ers to nearest whole dollar) July August Buddah Cocos 2. Determine budgeted cash payments for July and August August Budgeted Cash Payments. Get Accounting homework help today
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