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The beginning cash balance is $15,000. sales are forecasted at $800,000 of which 80% will be on credit. 70% of credit sales are expected to be collected in the year of sale. cash expenditures for the year are forecasted at $475,000. accounts receivable from previous accounting periods totaling $9,000 will be collected in the current year. the company is required to make a $15,000 loan payment and an annual interest payment on the last day of every year. the loan balance as of the beginning of the year is $90,000, and the annual interest rate is 10%. compute the excess of cash receipts over cash disbursements.
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The beginning cash balance is $15,000. sales are forecasted at $800,000 of which 80% will be on cred...
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