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Helen Bowers owner of Helen s Fashion Designs is planning to request a line of credit from her bank She has estimated the following sales forecasts for the firm for parts of

Helen Bowers, owner of Helen s Fashion Designs, is planning to request a line of credit from her bank. She has estimated the following sales forecasts for the firm for parts of 2015 and 2016: May 2015.................................$180,000 June..........................................180,000 July..........................................360,000 August......................................540,000 September.................................720,000 October....................................360,000 November.................................360,000 December...................................90,000 January 2016..............................180,000 Estimates regarding payments obtained from the credit department are as follows: collected within the month of sale, 10%; collected the month following the sale, 75%; collected the second month following the sale, 15%. Payments for labor and raw materials are made the month after these services were provided. Here are the estimated costs of labor plus raw materials: May 2015..................................$90,000 June..........................................90,000 July.........................................126,000 August....................................882,000 September................................306,000 October...................................234,000 November................................162,000 December.................................90,000 General and administrative salaries are

 

May 15 2020 View more View Less

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