company has projected the following sales for the spring quarter of 2014:April $200,000May $250,000June $275,00065% of all sales are paid for with cash. The remainder is on credit.  The pattern for credit receivables collections are:  Month of Sale 60%Month After Sale 30%Second Month After Sale 10%What are the forecasted cash collections for the month of June? $248,750 $275,000 $178,750 $269,750

Innovation Company has furnished the following information:  Forecast sales for 1st month$ 232916Forecast sales for 2nd month$ 459640  Cash sales = 30% of total salesCollection schedule of the sales on credit  In month sold40 %In the next month60 %  What are Innovation Company’s forecast total cash collections for the second month?

Bowden Company has furnished the following information:  Forecast sales for 1st month$ 339267Forecast sales for 2nd month$ 427051  Cash sales = 20% of total salesCollection schedule of the sales on credit  In month sold60 %In the next month40 %  What are Bowden Company’s forecast total cash collections for the second month?

Fill in the Blank QuestionFill in the blank question.A manufacturing company's sales budget indicates the following sales: January: $25,000; February: $30,000; March: $35,000. The company expects 70% of the sales to be on account and the remainder to be cash sales. Credit sales are collected in the month following the sale. The total cash collected during March will be $.

Exercise 13-39 (Algo) Estimate Cash Collections (LO 13-4)Hackett Produce Supply is preparing its cash budget for April. The following information is available:Estimated credit sales for April $ 268,000Actual credit sales for March $ 159,000Estimated collections in April for credit sales prior to March $ 15,000Estimated write-offs in April for uncollectible credit sales $ 11,420Estimated provision for bad debts in April for credit sales in April $ 10,430Estimated collections in April for credit sales in April 25%Estimated collections in April for credit sales in March 70%Required:What is the estimated amount of cash receipts from accounts receivable collections in April?

A company plans to purchase inventory for the second half of 2014 as follows:July $100,000August $75,000September $225,000October $125,000November $250,000December $30,000They usually pay 50% of inventory purchases in the month of purchase, 35% in the following month, and 15% in the second month.Based on this information, what are the forecasted total 2014 cash payments for inventory purchased in the second half of 2014? $705,000 $752,500 $790,000 $805,000