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All sales of Tonyas jeans and Uniforms are made on credit Sales are billed twice a monthly on the fifth of the for the last half of the prior months sales and on the twentieth of the month for the

All sales of Tonya's jeans and Uniforms are made on credit. Sales are billed twice a monthly, on the fifth of the for the last half of the prior month's sales and on the twentieth of the month for the fist half of the current month's sales. For accounts paid within the first 10 days after billing date, TJU gives customers a 1% discount; otherwise the full amount is due within 30 days of the billing date, and customers that do not pay within the month of purchase and the other half in the month following the purchase. All sales and purchases occur uniformly throughout the month. data table within the 10 day discount table period 65% at 30 days after billing 32% Uncollectible 3% Sales for may 20X8 were $800,000. The forecast sales for the next 4 months are june 920000 july 1020000 August 1000000 sep 620000 How much cash can TJU plan to collect from account receivable collections during July 20X8? compute the budgeted dollar value of TJU inventory on may 31,20X8? How much merchandise should TJU plan to purchase during June 20X8? How much should TJU budget in August 20X8 for cash payment for merchandise purchased?

 

May 02 2020 View more View Less

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