Accounting HW - Your Name SoECC Set (1)

Assumptions (Formula Inputs):

Cash On Account
% of sales that are:
Month of sale
1 month after
sale
2 months after
sale
% of "On Account" sales are
collected in the period:
Schedule of Expected Cash Collections
Collections on sales: Quarter
Cash Sales
Credit sales:
May
June
July
August
September
Total cash collected
Still to be collected from:
August
September
AR as of Sep 30, 2013
Page 1 of 4
Accounting HW - Your Name SoECC Set (1an)
Assumptions (Formula Inputs):
Months: May June July August September
Budgeted Sales: 430,000 540,000 600,000 900,000 500,000
Cash On Account
% of sales that are: 10.00% 90.00%
Month of sale
1 month after
sale
2 months after
sale
% of "On Account" sales are
collected in the period: 20.00% 70.00% 10.00%
Schedule of Expected Cash Collections
Collections on sales: July August September Quarter
Cash Sales 60,000 $ 90,000 $ 50,000 $ 200,000 $
Credit sales: - $
May 38,700 38,700 $
June 340,200 48,600 388,800 $
July 108,000 378,000 54,000 540,000 $
August 162,000 567,000 729,000 $
September 90,000 90,000 $
Total cash collected 546,900 $ 678,600 $ 761,000 $ 1,986,500 $
Still to be collected from:
August 81,000
September 360,000
AR as of Sep 30, 2013 441,000
Page 2 of 4
Accounting HW - Your Name SoECC Set (2an)
Assumptions (Formula Inputs):
Months: May June July August September
Budgeted Sales: 430,000 540,000 600,000 900,000 500,000
Cash On Account
% of sales that are: 15.00% 85.00%
Month of sale
1 month after
sale
2 months after
sale
% of "On Account" sales are
collected in the period: 30.00% 65.00% 5.00%
Schedule of Expected Cash Collections
Collections on sales: July August September Quarter
Cash Sales 90,000 $ 135,000 $ 75,000 $ 300,000 $
Credit sales: - $
May 18,275 18,275 $
June 298,350 22,950 321,300 $
July 153,000 331,500 25,500 510,000 $
August 229,500 497,250 726,750 $
September 127,500 127,500 $
Total cash collected 559,625 $ 718,950 $ 725,250 $ 2,003,825 $
Still to be collected from:
August 38,250
September 297,500
AR as of Sep 30, 2013 335,750
Page 3 of 4
Accounting HW - Your Name SoECC Set (3an)
Assumptions (Formula Inputs):
Months: May June July August September
Budgeted Sales: 430,000 540,000 600,000 900,000 500,000
Cash On Account
% of sales that are: 12.00% 88.00%
Month of sale
1 month after
sale
2 months after
sale
% of "On Account" sales are
collected in the period: 15.00% 50.00% 35.00%
Schedule of Expected Cash Collections
Collections on sales: July August September Quarter
Cash Sales 72,000 $ 108,000 $ 60,000 $ 240,000 $
Credit sales: - $
May 132,440 132,440 $
June 237,600 166,320 403,920 $
July 79,200 264,000 184,800 528,000 $
August 118,800 396,000 514,800 $
September 66,000 66,000 $
Total cash collected 521,240 $ 657,120 $ 706,800 $ 1,885,160 $
Still to be collected from:
August 277,200
September 374,000
AR as of Sep 30, 2013 651,200
Page 4 of 4