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Financial Planning and Budget Analysis

A financial study on budgeting techniques and financial planning strategies.

Benjamin Fisher
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Financial Planning and Budget AnalysisChapter 6 and 7 ProblemsPlease complete the following 8 exercises below in either Excel or a word document (but must be singledocument). You must show your work where appropriate (leaving the calculations within Excel cells isacceptable). Save the document, and submit it in the appropriate week using the Assignment Submissionbutton.Chapter 6 Exercise 22. Schedule of cash collectionsSugarland Company sells a single product and anticipates opening a new facility in Charlotte on May 1of the current year. Expected sales during the first three months of activity are: May, $60,000; June,$80,000; and July, $85,000. Thirty percent of all sales are for cash; the remaining 70% are on account.Credit sales have the following collection pattern: Collected in the month of sale 60%Collected in the month following sale 35 Uncollectible 5SUGARLAND COMPANYSCHEDULE OF CASH COLLECTIONSFOR THE THREE MONTHS ENDED JULY 31, 20XXMayJuneJulyTotalMay salesCash$18,000$ 18,000CreditJune salesCash25,200$14,70024,00039,90024,000CreditJuly salesCash33,600$19,60025,50053,20025,500Credit35,70035,700Totalbudgetedcashcollections$43,200$72,300$80,800$196,300

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