Cash Receipt Schedule

In: Business and Management

Submitted By dtlxx1991
Words 910
Pages 4
TBS 801 Accounting and Financial Management

Assessment 2

Brief report on
Cash receipts schedule of Chicago Electronics Pty Ltd.
&
Income statement of Omega Freshwater

Liu Xing
5242915
Part A
Chicago Electronics Pty Ltd.

Introduction

Chicago Electronics has following sales from January to August.
January $28,000
February $25,000
March $25,000
April $30,000
May $20,000
June $30,000
July $35,000
August $36,000

All sales are credit sales, so all sales are not collected by cash straightly.
10% of the sale is uncollectible.
30% of the sale is collected in the end of the month of the sale.
40% of the sale is collected in the following month of the sale.
20% of the sale is collected two months after the month of the sale.

This report will analyze the cash receipts schedule of Chicago Electronics from March to August. And the analysis will inform the strengths and weaknesses in the sale.

| January | February | March | April | May | Sales (100% credit sales) | $28,000 | $25,000 | $25,000 | $30,000 | $20,000 | Uncollectible from sale (10% of sale) | $2,800 | $2,500 | $2,500 | $3,000 | $2,000 | Collections in the month of sale (30% of sale) | $8,400 | $7,500 | $7,500 | $9,000 | $6,000 | Collections in the following month of sale (40% of sale) | NA | $11,200 | $10,000 | $10,000 | $12,000 | Collections in two months after sale (20% of sale) | NA | NA | $5,600 | $5,000 | $5,000 | Total cash receipts of the month | NA | NA | $23,100 | $24,000 | $23,000 |
Chicago Electronics
Cash receipts schedule
Fig.1

(Continued)
Chicago Electronics
Cash receipts schedule | June | July | August | September | October | Sales (100% credit sales) | $30,000 | $35,000 | $36,000 | NA | NA | Uncollectible from sale (10% of sale) | $3,000 | $3,500 | $3,600 | NA | NA | Collections in the…...

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