1) Harris Electronics bills its clients on the first of the month. For example, any sale made in the month of July is billed August 1 and is due September 1. Clients traditionally pay as follows: 50% by the end of the first month (August), 40% by the end of the second month (September), 8% by the end of the third month (October), and 2% default on their bills. The firm’s CEO wants to know the anticipated cash flow for April.
Use the following information to estimate April cash flows. First-Quarter Actual Sales Second-Quarter Anticipated Sales January February March April May June $88,000 $74.000 $96,000 $99,000 $82,000 $63,000 2) Harris Electronics bills its clients on the first of the month. For example, any sale made in the month of July is billed August 1 and is due September 1. Clients traditionally pay as follows: 50% by the end of the first month August), 40% by the end of the second month (September), 8% by the end of the third month (October), and 2% default on their bills. What is the dollar value of January billings collected in April? First-Quarter Actual Sales January February March $88,000 $74.000 $96,000 Second-Quarter Anticipated Sales April May $99,000 $82,000 $63,000 June 3- For April, Anderson Antiques will have cash receipts of $365,000 and cash disbursements of $370,000. If its beginning cash is $4,000 and its desired reserve is $3,000, what will be its shortfall in cash for the month?
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