This topic contains a solution. Click here to go to the answer

Author Question: Gerald's Produce provides quality fruits and vegetables to upscale restaurants in the tri-cities ... (Read 81 times)

Collmarie

  • Hero Member
  • *****
  • Posts: 569
Gerald's Produce provides quality fruits and vegetables to upscale restaurants in the tri-cities area. A sales forecast for Gerald's is shown on the top row of the table. Gerald makes 100% of his sales on credit. Gerald collects 50% of sales in the month following the sale, and the remaining 50% two months later. Gerald buys his produce in the same month as the sales. The cost of the fruits and vegetables is half of sales. Suppliers require Gerald to pay cash for his purchases. Gerald makes lease payments on his van of $500 per month, and gas costs him $100 per month. Gerald's Produce has a cash balance of $1,000 at the beginning of January. 

Sales Forecast and Cash Budget
Gerald's Produce
NovDecJanFebMarch
Sales Forecast$20,000$15,000$5,000$15,000$20,000
Collections from last month
Collections from 2 months ago
Total Cash Inflows
Purchases From Suppliers
Payments to Suppliers
Van Lease Payments$500$500$500$500$500
Gas$100$100$100$100$100
Total disbursements
Net Cash Flow
Beginning cash balance1,000
Plus: Net Cash Flows
Ending Cash balance1,000 

Referring to Gerald's Produce, what are Gerald's collections from customers expected to be in March?
◦ $2,500
◦ $5,000
◦ $7,500
◦ $10,000
◦ $20,000


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Collmarie on Apr 25, 2021

hramirez205

  • Sr. Member
  • ****
  • Posts: 345
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 64% of students answer this correctly




Collmarie

  • Member
  • Posts: 569
Reply 2 on: Apr 25, 2021
YES! Correct, THANKS for helping me on my review


Chelseyj.hasty

  • Member
  • Posts: 319
Reply 3 on: Yesterday
Gracias!

 

Did you know?

The average person is easily confused by the terms pharmaceutics and pharmacology, thinking they are one and the same. Whereas pharmaceutics is the science of preparing and dispensing drugs (otherwise known as the science of pharmacy), pharmacology is the study of medications.

Did you know?

The oldest recorded age was 122. Madame Jeanne Calment was born in France in 1875 and died in 1997. She was a vegetarian and loved olive oil, port wine, and chocolate.

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

Did you know?

Over time, chronic hepatitis B virus and hepatitis C virus infections can progress to advanced liver disease, liver failure, and hepatocellular carcinoma. Unlike other forms, more than 80% of hepatitis C infections become chronic and lead to liver disease. When combined with hepatitis B, hepatitis C now accounts for 75% percent of all cases of liver disease around the world. Liver failure caused by hepatitis C is now leading cause of liver transplants in the United States.

For a complete list of videos, visit our video library