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ayoismeisalex
ayoismeisalex
26.10.2021 • 
Business

Fast Distribution Company expects its September sales to be 25% higher than its August sales of $151,000. Purchases were $101,000 in August and are expected to be $121,000 in September. All sales are on credit and are expected to be collected as follows: 30% in the month of the sale and 70% in the following month. Purchases are paid 25% in the month of purchase and 75% in the following month. The cash balance on September 1 is $11,000. The ending cash balance on September 30 is estimated to be:

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