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Cornerstones of Cost Management 2nd Edition by Don Hansen ,Maryanne Mowen
Edition 2ISBN: 978-1111824402Cornerstones of Cost Management 2nd Edition by Don Hansen ,Maryanne Mowen
Edition 2ISBN: 978-1111824402 Exercise 23
Schedule of Cash Receipts
Rosita Flores owns Rosita's Mexican Restaurant in Tempe, Arizona. Rosita's is an affordable restaurant near campus and several hotels. Rosita accepts cash and checks. Checks are deposited immediately. The bank charges $0.50 per check; the amount per check averages $75. "Bad" checks that Rosita cannot collect make up 3 percent of check revenue.
During a typical month, Rosita's has sales of $45,000. About 80 percent are cash sales. Estimated sales for the next three months are as follows:
Required:
Prepare a schedule of cash receipts for May and June. (Round all amounts to the nearest dollar.)
Rosita Flores owns Rosita's Mexican Restaurant in Tempe, Arizona. Rosita's is an affordable restaurant near campus and several hotels. Rosita accepts cash and checks. Checks are deposited immediately. The bank charges $0.50 per check; the amount per check averages $75. "Bad" checks that Rosita cannot collect make up 3 percent of check revenue.
During a typical month, Rosita's has sales of $45,000. About 80 percent are cash sales. Estimated sales for the next three months are as follows:
Required:
Prepare a schedule of cash receipts for May and June. (Round all amounts to the nearest dollar.)
Explanation
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Cash budget:
Cash budget is the budget ...
Cornerstones of Cost Management 2nd Edition by Don Hansen ,Maryanne Mowen
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