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Concept explainersConversion cycle is also known as cash cycle or net operating cycle. Conversion cycle refers to how much time a company takes to turn its investments which is done from stock or any other financial resources into cash flows from sales.
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PROBLEM 7-I CASH BUDGET The Francine Company, a merchandising firm, has planned the following sales for the next four months: March April May June Total budgeted sales. 50,000 70,000 90,000 60,000 Sales are made 40% for cash and 60% on account. From experience, the company has learned that a month's sales on account are collected according to the following pattern: Month of sale 70% First month following month of sale 20% Second month following month of sale 8% Uncollectible 2% The company requires a minimum cash balance of $4,000 to start a month. Required: B. Assume the following budgeted data for June: Purchases Р52,000 Selling and administrative expenses. 10,000 Depreciation . 8,000 Equipment purchases. 15,000 Cash balance, beginning of June.. 6,000 Using this data, along with your answer to part (1) above, prepare a cash budget in good form for June. Clearly show any borrowing needed during the month. The company can borrow in any dollar amount, but will not pay any…
