Chat with us, powered by LiveChat The CEO needs your help with cash projections for - Writemia

The CEO needs your help with cash projections for

The CEO needs your help with cash projections for the period March 2016-June 2016. Accounting department has the following information:February 2016March2013April2013May2013June2013Sales$ 325,000$500,000$399,000$314,000$540,000MaterialPurchases$ 177,500$ 347,000$244,000$183,000$394,000Payroll$27,500$37,000$32,000$28,500$41,500OtherDisbursements$20,000$25,000$5,000$37,000$27,000(a) Cash Sales offer 2% discount. Sales are 60% cash, 40% credit. 2% of credit sales are bad debts. The 40% credit portion of salesis paid equally between the month of the sale and the following month.(b) Material purchases are paid 50% in the month of purchase and reaming 50% during the next month.(c) Payroll and other disbursements are paid in the month these are incurred.(d) Cash balance was $ 89,000 as of March 1, 2016.You are required to prepare the Cash Projections for the period March 2016-June 2016. Please show your calculations that include closing balancesfor cash in hand.

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