Shiller Corporation has the following sales forecasts for the selected three-month period in 2014: All sales are on account. Seventy percent of sales are collected in the month of the sale, and the remainder are collected in the following month.
Minimum cash balance is $10,000. Cash can be borrowed in $1,000 increments from the local bank (assume no interest charges).
How much cash would be collected in September from sales?

Question

Shiller Corporation has the following sales forecasts for the selected three-month period in 2014:  All sales are on account. Seventy percent of sales are collected in the month of the sale, and the remainder are collected in the following month.
 Minimum cash balance is $10,000. Cash can be borrowed in $1,000 increments from the local bank (assume no interest charges).
How much cash would be collected in September from sales?

Quizplus · Accepted Answer

The Answer of Shiller Corporation has the following sales forecasts for the selected three-month period in 2014:  All sales are on account. Seventy percent of sales are collected in the month of the sale, and the remainder are collected in the following month.
 Minimum cash balance is $10,000. Cash can be borrowed in $1,000 increments from the local bank (assume no interest charges).
How much cash would be collected in September from sales?

Shiller Corporation Has the Following Sales Forecasts for the Selected