1-Please look over the last problem for the week. Duffy Corporation

1-How can forecasting improve your operations and supply chain processes?
March 13, 2020
1- an article about the Importance of Communication within an organization.
March 13, 2020

1-Please look over the last problem for the week.  Duffy Corporation has prepared the following

sales budget:

                                Month                             Cash Sales        Credit Sales

May                                        $16,000                 $68,000

                                June                                           20,000                   80,000

                                July                                            18,000                   74,000

                                August                                     24,000                   92,000

                                September                               22,000                   76,000

Management estimates that 5% of credit sales are not collectible and of the credit sales that are collectible, 60 % are collected in the month of sale and the remainder in the month following the sale. 

Cost of purchases of inventory each month are 70% of the next month’s projected sales with 11 purchases of inventory are on account.  25% are paid in the month of purchase, and the remainder is paid in the month following the purchase. 

What would the cash receipts be for June?

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