Test2 2021.docx - Mailings Review View Help QUESTION 1 [Total: 14] CZJ Ltd seeks your assistance to develop cash and oth

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Test2 2021 Docx Mailings Review View Help Question 1 Total 14 Czj Ltd Seeks Your Assistance To Develop Cash And Oth 1 (395.69 KiB) Viewed 46 times

Test2 2021.docx - Mailings Review View Help QUESTION 1 [Total: 14] CZJ Ltd seeks your assistance to develop cash and other budget information for May June and July 2007. The budget is to be based on the following assumptions: C Each month's sales are billed on the last day of the month. O Customers are allowed a 3% discount if payment is made within ten days after the billing date. All Accounts Receivable are booked at gross. 60% of the billings are collected within the discount period, 25% are collected by the end of the month, 9% are collected by the end of the second month and 6% prove to be uncollectible O 54% of all purchases of merchandise as well as selling, general and administrative expenses are paid in the month purchased and the remainder in the following month. • Each month's units of ending inventory is equal to 130% of the next month's units of sales The cost of each unit of merchandise inventory is R20 lill Total selling, general and administrative expenses are equal to 15% of the current month's sales and include R2 000 of depreciation. Actual and projected sales are as follows 2007 UNITS March 354 000 11 800 April 363 000 12 100 May 357 000 11 900 June 342 000 11 400 360 000 12 000 August 366 000 12 200 Required: 11 Determine the total budgeted cash collections during May! 16) 1.2 Determine the budgeted number of units of inventory to be purchased during July HUAWEI P30 lite Juulv