Shelia’s Sales Corporation is a wholesaler of industrial goods. Data regarding the store’s operations follow:~Sales are budgeted at $350,000 for November, $360,000 for December, and $340,000 for January. ~Collections are expected to be 60% in the month of sale, 39% in the month following the sale, and 1% uncollectible.~The cost of goods sold is 75% of sales.~The company desires an ending merchandise inventory equal to 40% of the following month’s cost of goods sold. Payment for merchandise is made in the month folowing the purchase.~The November beginning balance in the accounts receivable account is $70,000.~The November beginning balance in the accounts payable account is $257,000.A.) Prepare a schedule of expected cash collections for November and December.B.) Prepare a Merchandise Purchases Budget for November and December.
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more