Jumbotron Inc. collects its receivables in 15 days and pays its payables in 20 days. All sales and purchases areon credit. All months have 30 days. December purchases were $7,000, January purchases were $8,700,February purchase were $6,600 and March purchases were $6,000. What were Jumbotron's total cashdisbursements in February? (To the nearest $)●●$7,667$8,000$1,867$6,533$5,600

The cash budget is prepared by the management to estimate the expected cash receipt and cash…

Answered: Jumbotron Inc. collects its receivables…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 10EA: Nonnas Re-Appliance Store collects 55% of its accounts receivable in the month of sale and 40% in...

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Last year, Tobys Hats had net sales of 45,000,000 and cost of goods sold of 29,000,000. Tobys had the following balances: Refer to the information for Tobys on the previous page. Required: Note: Round answers to one decimal place. 1. Calculate the average accounts receivable. 2. Calculate the accounts receivable turnover ratio. 3. Calculate the accounts receivable turnover in days.
Nonnas Re-Appliance Store collects 55% of its accounts receivable in the month of sale and 40% in the month after the sale. Given the following sales, how much cash will be collected in February?
Al Sharif Company's Average Accounts Receivables is OMR 360,000 and total Sales is OMR 1,200,000. The Cash sales are 40% of total sales. In this case, the Receivable collection period of the company will be: O a. 109.6 days O b. 273.75 days O c. 138.6 days O d. 182.5 days
Assuming a 365-day year, how long (in average days) does the collectibles from customers stay as outstanding accounts receivable if Company Z has a total sale of $1,800,000 of which $200,000 are cash sales and the beginning and ending accounts receivable balances are $30,000 and $50,000, respectively.
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The company sells on terms 2/10, net 30. Total sales for the year are P1,000,000, of which P100,000 are on cash basis. Half of the customers pay on the tenth day and take discounts on average, 40 days after their purchases. What is the average amount of receivables? a. P62,500 b. P69,444.44 c. P20,408.16 d. P10,204.08
Jasper Company has sales on account and for cash. Speclfically, 63% of Its sales are on account and 37% are for cash. Credit sales are collected In full in the month following the sale. The compay forecasts sales of $526.000 for April, $536.,000 for May, and $561,000 for June. The beginning balance of Accounts Recetvable Is S291.600 on Aprll 1. Prepare a schedule of budgeted cash recelpts for Aprl, May, and June.
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