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Question
Pecan Company had March sales and purchases of $63,000 and $47,000 respectively. The company expects April sales to increase 12% above March sales and purchases to stay consistent with March amounts. Twenty percent of the companys sales are for cash. Credit sales are collected 20% in the month of the sale and 80% in the following month. All purchases are paid for in the month following the purchase. The beginning cash balance on April 1 is $42,000. What is Pecan Companys expected cash balance on April 30?
A. $46,609.60
B. $105,880.00
C. $70,801.60
D. $60,721.60
E. $49,432.00.
Answer
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Related questions
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Q:
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Q:
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