Protected Balance In Accounts Payable Assignment | Top Universities

Check my work 3 Handy Hardware is a retail hardware store. Information about the store's operations follows November 20×1 sales amounted to $540,000. .Sales are budgeted at $580,000 for December 20×1 and $540,000 for January 20×2 .Collections are expected to be 60 percent in the month of sale and 38 percent in the month following the sale.

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Two percent of sales points cognized monthly. Speed The store's grass margin Is 25 percent of its sales revenue. A total of 70 percent of the merchandise for resale is purchased in the month prior to the month of sale, and 30 percent are Other monthly expenses paid in cash amount to AE Co s made in the month following the purchase. . Annual depreciation is $474,000. MBrak The company's balance sheet as of November 30, 20×1, is as follows: That FAX Bl C. Noven 20x LrEaty 58, D00 Referancas unite receivable. Inve ,400 allowance for uncollectible accounts) 20 000 1,664,000 depreciation) S2,508.000 Total assets Account payable lities and 8tockholdars Equity s 426,000 1,730,000 Connon stock $2.500.099 data 1iahi1ities and owner: equity Required: Compute the budgeted cash collections for December 20×1. .Compute the protected balance In accounts payable a December 31. 20×1 Complete this question by entering your answers in the tabs below. Required: Required 2 Required 3. Get Accounting Homework Help Today

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