Company’s financial records.L

FahrFmtc ‘ File Home Insert Draw Page Layout Formulas Data Review View Help .3 Share l3 Comments_ A o | . i ‘_’ Z AutoSum v Af“ [21 Ana. V A A «:0 v mam Custom v m 3% y e-H H-x 4-1: Z? /O ;v ~11 Fill VPaste B I U 0, A e- ,_ H o (—11 .00 Conditional Format as Cell Insert Delete Format Sort 8L Find 81 Ideasv v v — — Mer e&Center V V , . v .V _ 9 $ /0 ’00 i0 Formatting V Table V Styles V V V V 0053′ FIIterV Select V Clipboard IS. Font IS. Alignment IS. Number IS. Styles Cells Editing Ideas A130 v E J fx vA A B l C l D l E i F , G H i | J i K i l M l N l 0 l l l R l l T U l V l W l X l A67 Please put correct answer in the underlined space provided.LL The following information was available from ABC Company’s financial records.L Other10 Year 2004 Sales Purchases Expenses1L April 3 86,400 $ 50,400 $ 18,00012_ May 79,200 57,600 16,560111 June 72,000 43,200 17,04011 July 93,600 64,800 18,96013 August 79.200 72,000 17,25015 Collections from customers are normally as follows:1L Month of sale 70%187 Month [allowing sale 20%1% Second month following sale 9%20_ The balance is expected to be uncollectible.2L2; The company takes full advantage of discount allowed on purchases paid tor by the21 tenth of the following month.2L Discount allowed 2%212g other expenses are paid for during the month of expenses.27_287 The company’s cash balance on August 1 was 3 26.40021307 Required:317 a) Compute the estimated total cash collections during August. (2 Marks)3;3i3135,35.3L3i334i4L b) Compute the estimated total cash disbursement during August. (2 Marks)4;43_4474i454L4iMi51L5L c) Compute the cash balance on August 31. (1 Mark)51L5i54 v i> iMarksiQ1iQZiQ3iQ4|QSiQG Q7 08‘ G) 4 r fl ,0 Type here to search

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