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Author Question: Pepper Farm's intern was preparing the cash budget for June. During the month, Pepper's cash sales ... (Read 96 times)

sbegs

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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 spend307,200
Less disbursements:
  Materials purchases266,100
  Selling and administrative expenses   54,000
Total cash disbursements320,100
Cash excess (needed)(12,900)
Borrowing   15,900
Ending cash balance$    3,000

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


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Marked as best answer by sbegs on Feb 5, 2023

leilani49

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sbegs

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Reply 2 on: Feb 5, 2023
:D TYSM


sarah_brady415

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Reply 3 on: Yesterday
Wow, this really help

 

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