Here are some important figures from the budget of Wexter Enterprises for the second quarter of 2010: The company predicts that 2 percent of its credit sales will never be collected, 45 percent of its sales will be collected in the month of sale, and the remaining 53 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase. In March 2010, credit sales were $387,000 and credit purchases were $279,500. What is the ending cash balance for April if the beginning cash balance was $97,500?

Question

Here are some important figures from the budget of Wexter Enterprises for the second quarter of 2010:  The company predicts that 2 percent of its credit sales will never be collected, 45 percent of its sales will be collected in the month of sale, and the remaining 53 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase. In March 2010, credit sales were $387,000 and credit purchases were $279,500. What is the ending cash balance for April if the beginning cash balance was $97,500?

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The Answer of Here are some important figures from the budget of Wexter Enterprises for the second quarter of 2010:  The company predicts that 2 percent of its credit sales will never be collected, 45 percent of its sales will be collected in the month of sale, and the remaining 53 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase. In March 2010, credit sales were $387,000 and credit purchases were $279,500. What is the ending cash balance for April if the beginning cash balance was $97,500?

Here Are Some Important Figures from the Budget of Wexter