Holiday Corporation has found that 60% of its sales in any given month are credit sales, while the remainder are cash sales. Of the credit sales, Holiday Corporation has experienced the following collection pattern: 25% received in the month of the sale 50% received in the month after the sale 16% received two months after the sale 9% of the credit sales are never received November sales for last year were $ 90 comma 000, while December sales were $ 115 comma 000. Projected sales for the next three months are as follows: January sales. . . . . . . . . . . . . . . . $145,000 February sales. . . . . . . . . . . . . . . $125,000 March sales. . . . . . . . . . . . . . . . . $180,000 Requirement Prepare a cash collections budget for the first quarter, with a column for each month and for the quarter. (Round your answers to the nearest whole dollar.)

Total   Cash Collection Budget Jan $ 74890      

Total   Cash Collection Budget  Feb  $ 73290        

Total   Cash Collection Budget  Mar $ 78420        

Total   Cash Collection Budget   Quarter  $ 226600

Explanation:

Holiday Corporation

Cash Collection Schedule

                  November December  January      February      March

Sales          $ 90,000   $115,000    $145,000  $ 125,000 $ 180,000

Credit Sales  60%           60%           60%           60%            60%

Credit Sales   54000      69,000     87,000      75,000       108,000

Collections      25%          50%           16%

November      13,500      27000        8640

$115,000                         25%          50%           16%

December                         17,250      34,500        11040

$145,000                                             25%          50%           16%

January                                                21750        43500        13920

125,000                                                                  25%          50%        

February                                                                 18750        37500  

108,000                                                                                     25%

March                                                                                          27000      

Total                                                       74890       73290         78420    

We calculate the amounts with the given percentages 25% in the first month 50% in the second and 16% in the third and get the above figures.

Holiday Corporation

Cash Collection Budget

                   January      February      March            Total

Sales          $   $145,000  $ 125,000 $ 180,000

Credit Sales        60%           60%            60%

Credit Sales       87,000      75,000       108,000    270,000

Collections            

November            8640

December            34,500        11040

January                  21750        43500        13920        

February                                    18750        37500        

March                                                             27000                    

Total                        74890       73290         78420        226600

balanced lifestyle would be the type of lifestyle that fulfill all aspects of our life, including financial security, personal achievements, emotional balance, and intimate relationships with other people.

for me personally, the job that i would choose to achieve a balanced lifestyle is opening an online store.

online store can be managed from the comfort of our phone. if we are the owner of the store, we can determine our own working hours. we can arrange our working hours so we have time to do things such as taking care of children, cultivating romantic relationship, or do our hobby.

answer; /// i believe that the correct answer is (b) money set aside for emergency repairs;