Author Question: Pepper Farm's intern was preparing the cash budget for June. During the month, Pepper's cash sales ... (Read 95 times)

sbegs · **on:** Feb 5, 2023

Pepper Farm's intern was preparing the cash budget for June. During the month, Pepper's cash sales were $30,000 and Pepper collects 60% of credit sales during the month of sale. What was the dollar amount of Pepper's credit sales?

Beginning cash balance	$ 3,600
Cash receipts	303,600
Total cash available to spend	307,200
Less disbursements:
Materials purchases	266,100
Selling and administrative expenses	54,000
Total cash disbursements	320,100
Cash excess (needed)	(12,900)
Borrowing	15,900
Ending cash balance	$ 3,000

◦ $200,160
◦ $456,000
◦ $556,000
◦ $476,000

leilani49 · **Reply #1 on:** Feb 5, 2023

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