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    The cash budget for Towfiig General Trading Company for the quarter ending December 31, 1990 shows expected cash receipts and payments. Receipts include an opening balance of $2,500 in October, cash sales of $15,000 per month, and collections from debtors ranging from $10,250 to $15,000. Payments include cash purchases at 5% of sales, wages and salaries of $5,000 per month, and other expenses. The closing balance is projected to increase each month from $5,000 in October to $11,750 in November and $20,000 in December.

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    The cash budget for Towfiig General Trading Company for the quarter ending December 31, 1990 shows expected cash receipts and payments. Receipts include an opening balance of $2,500 in October, cash sales of $15,000 per month, and collections from debtors ranging from $10,250 to $15,000. Payments include cash purchases at 5% of sales, wages and salaries of $5,000 per month, and other expenses. The closing balance is projected to increase each month from $5,000 in October to $11,750 in November and $20,000 in December.

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    14 views2 pages

    JANA

    Uploaded by

    jamal hassan
    The cash budget for Towfiig General Trading Company for the quarter ending December 31, 1990 shows expected cash receipts and payments. Receipts include an opening balance of $2,500 in October, cash sales of $15,000 per month, and collections from debtors ranging from $10,250 to $15,000. Payments include cash purchases at 5% of sales, wages and salaries of $5,000 per month, and other expenses. The closing balance is projected to increase each month from $5,000 in October to $11,750 in November and $20,000 in December.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLSX, PDF, TXT or read online from Scribd
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    TOWFIIQ GENERAL TRADING COMPANY

    CASH BUDGET
    For the Quarter ending 31st December, 1990
    ParticularsOctober November December
    $ $ $
    Receipts:
    Opening cash balance 2500 5000 11750
    Cash sales (1/2) 15000 15000 15000
    Collection From detor 10250 14500 15000
    Total 27,750 34,500 41,750

    Payments:
    Cash purcahses (5%) 14250 14250 14250
    Wages and Salaries 5000 5000 5000
    Cash Expenses 1500 1500 1500
    Selling Expenses 1000 1000 1000
    Administrative Exp. 1000 1000 ….
    Total 22750 22750 21750

    Clsoing Balance 5,000 11,750 20,000

    Explanatory Notes
    1.calculations of collection from Debtors is made as follows:
    ParticularsAugust SeptemberActober November December
    Credit Sal $ $ $ $ $
    (1/2) 12500 10000 15000 15000 15000

    Collections
    90% 9000 (0.9*1000) 13500 (.9*15000) 13500 (.9*15000)
    10% 1250(0.1*12500)1000(0.1*10000) 1500(0.1*15000)
    Total 10250 14500 15000

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