1) The company's sales, purchases, and cash flows are presented quarterly. Total annual sales were $1,400,000 while total purchases were $863,000.
2) Cash collection schedules and cash disbursement schedules are provided to show the sources and uses of cash each quarter. Beginning cash balance was $10,000.
3) Borrowing of $48,000 occurred in Q2, and repayments including interest of $51,600 occurred in Q3, leaving an ending cash balance of $22,400.
1) The company's sales, purchases, and cash flows are presented quarterly. Total annual sales were $1,400,000 while total purchases were $863,000.
2) Cash collection schedules and cash disbursement schedules are provided to show the sources and uses of cash each quarter. Beginning cash balance was $10,000.
3) Borrowing of $48,000 occurred in Q2, and repayments including interest of $51,600 occurred in Q3, leaving an ending cash balance of $22,400.
1) The company's sales, purchases, and cash flows are presented quarterly. Total annual sales were $1,400,000 while total purchases were $863,000.
2) Cash collection schedules and cash disbursement schedules are provided to show the sources and uses of cash each quarter. Beginning cash balance was $10,000.
3) Borrowing of $48,000 occurred in Q2, and repayments including interest of $51,600 occurred in Q3, leaving an ending cash balance of $22,400.