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Business, 31.12.2019 05:31 Lindsay882

craftco, inc.'s projected sales for the first six months of 2012 are given below: jan. $500,000 april $490,000 feb. $740,000 may $740,000 mar. $380,000 june $610,000 40% of sales are collected in cash at time of sale, 50% are collected in the month following the sale, and the remaining 10% are collected in the second month following the sale. cost of goods sold is 60% of sales. purchases are made in the month prior to the sales, and payments for purchases are made in the month of the sale. total other cash expenses are $40,000/month. the company's cash balance as of february 28, 2012 will be $25,000. excess cash will be used to retire shortminus−term borrowing (if any). craftco, inc. has no short term borrowing as of february 28, 2012 assume that the interest rate on shortminus−term borrowing is 1% per month. the company must have a minimum cash balance of $15,000 at the beginning of each month. what is craftco, inc.'s total cash disbursements for april 2012?

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craftco, inc.'s projected sales for the first six months of 2012 are given below: jan. $500,000 apr...
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