Pecan company had march sales and purchases of 63000 and, Ask an Expert

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Pecan Company had March sales and purchases of $63,000 and $47,000 respectively. The company expects April sales to increase 12% above, and purchases to stay consistent with March amounts. Twenty percent of the company's sales are for cash. Credit sales are collected twenty percent in the month of the sale and 80% in the following month. All purchases are paid for in the month following the purchase. The beginning cash balance on April 1 is $42,000. What is Pecan Company's expected cash balance on April 30th?

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Accounting Basics, Accounting

Category:- Accounting Basics
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