I would like some help copleteing the following cash collection budget spreadshe

Question

I would like some help copleteing the following cash collection budget spreadsheet:

Sisquoc Widget Company Cash Collections Budget Nov 2010 21,500 Mar 2011 45,000 2010 Sales Dec 2010 22,500 Jan 2011 11,250 Feb 2011 33,750 Apr 2011 22,500 2011 Sales 10% Cash Sales 90% Credit Sales Credit Sales Collections 75% in Next Month after sale 25% in 2nd Month after sale Required: Complete the following table. 2011 Cash Receipts Jan 2011 Feb 2011 Mar 2011 Apr 2011 Source of Cash Current Cash Sales 1 Month Prior 2 Months Prior Total Cash Receipts

Explanation / Answer

Jan-11 Feb-11 mar--2011 apr --2011 Source of cash Current cash sale 1,125 3,375 4,500 2,250 1 month prior 15187.5 7593.75 22781.25 30375 2 month prior 4837.5 5062.5 2531.25 7593.75 total cash receipts 21,150 16,031 29,813 40,219 nov Dec jan Feb march April Credit sale 90% 19350 20250 10125 30375 40500 20250 Credit sale collectio 75% in next month 14512.5 15187.5 7593.75 22781.25 30375 25% in 2nd month after sale 4837.5 5062.5 2531.25 7593.75 total 20025 12656.25 25312.5 37968.75

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