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Business, 30.03.2020 19:02 jordan7626
Thomas & Cooke Corporation has the following sales forecasts for the first three months of the current year: Month Sales January $39,000 February 26,000 March 45,000 85% of sales are collected in the month of the sale and the remainder is collected in the following month. Accounts receivable balance (January 1) $25,800 Cash balance (January 1) 25,000 Minimum cash balance needed 22,000 What is the cash balance at the end of January, assuming that cash is received only from customers and that $50,000 is paid out during January?
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