Schedule of Cash Collections of Accounts Receivable

OfficeMart Inc. has "cash and carry" customers and credit customers. OfficeMart estimates that 25% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 25% pay their accounts in the month of sale, while the remaining 75% pay their accounts in the month following the month of sale. Projected sales for the next three months are as follows:

The Accounts Receivable balance on September 30 was $83,000.

Prepare a schedule of cash collections from sales for October, November, and December. Round all calculations to the nearest whole dollar.

Schedule of Cash Collections of Accounts Receivable

OfficeMart Inc. has "cash and carry" customers and credit customers. OfficeMart estimates that 30% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 25% pay their accounts in the month of sale, while the remaining 75% pay their accounts in the month following the month of sale. Projected sales for the next three months are as follows:

The Accounts Receivable balance on September 30 was $72,000.

Prepare a schedule of cash collections from sales for October, November, and December. Round all calculations to the nearest whole dollar.

Schedule of Cash Collections of Accounts Receivable

OfficeMart Inc. has "cash and carry" customers and credit customers. OfficeMart estimates that 20% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 20% pay their accounts in the month of sale, while the remaining 80% pay their accounts in the month following the month of sale. Projected sales for the next three months are as follows:

The Accounts Receivable balance on September 30 was $85,000.

Prepare a schedule of cash collections from sales for October, November, and December. Round all calculations to the nearest whole dollar.

Schedule of Cash Collections of Accounts Receivable

Office World Inc. has "cash and carry" customers and credit customers. Office World estimates that 25% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 25% pay their accounts in the month of sale, while the remaining 75% pay their accounts in the month following the month of sale. Projected sales for the next three months of 2016 are as follows:

The Accounts Receivable balance on July 31, 2016, was $76,000.

Prepare a schedule of cash collections from sales for August, September, and October. Round all calculations to the nearest whole dollar.

Schedule of Cash Collections of Accounts Receivable

OfficeMart Inc. has "cash and carry" customers and credit customers. OfficeMart estimates that 25% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 20% pay their accounts in the month of sale, while the remaining 80% pay their accounts in the month following the month of sale. Projected sales for the next three months are as follows:

The Accounts Receivable balance on September 30 was $79,000.

Prepare a schedule of cash collections from sales for October, November, and December. Round all calculations to the nearest whole dollar.

Schedule of Cash Collections of Accounts Receivable

Office World Inc. has "cash and carry" customers and credit customers. Office World estimates that 30% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 20% pay their accounts in the month of sale, while the remaining 80% pay their accounts in the month following the month of sale. Projected sales for the next three months of 2016 are as follows:

The Accounts Receivable balance on July 31, 2016, was $89,000.

Prepare a schedule of cash collections from sales for August, September, and October. Round all calculations to the nearest whole dollar.

Schedule of Cash Collections of Accounts Receivable

OfficeMart Inc. has "cash and carry" customers and credit customers. OfficeMart estimates that 30% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 20% pay their accounts in the month of sale, while the remaining 80% pay their accounts in the month following the month of sale. Projected sales for the next three months are as follows:

The Accounts Receivable balance on September 30 was $74,000.

Prepare a schedule of cash collections from sales for October, November, and December. Round all calculations to the nearest whole dollar.

Schedule of Cash Collections of Accounts Receivable OfficeMart Inc. has "cash and carry" customers and credit customers. OfficeMart estimates that 20% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 20% pay their accounts in the month of sale, while the remaining 80% pay their accounts in the month following the month of sale. Projected sales for the next three months are as follows: October $115,000 November 144,000 December 210,000 The Accounts Receivable balance on September 30 was $77,000. Prepare a schedule of cash collections from sales for October, November, and December. Round all calculations to the nearest whole dollar. OfficeMart Inc. Schedule of Cash Collections from Sales For the Three Months Ending December 31 October November December Receipts from cash sales: Cash sales $ $ $ September sales on account: Collected in October October sales on account: Collected in October Collected in November November sales on account: Collected in November Collected in December December sales on account: Collected in December Total cash receipts $ $ $

Sunny Valley Stables Inc. was established on April 1, 2017. The company provides stables, care for animals, and grounds for riding and showing horses. You have been hired as the new assistant financial controller. The following transactions for April 2017 are provided for your review.

1. Received contributions from five investors of $200,000 in cash ($40,000 each).
2. Built a barn for $142,000; paid half the amount in cash on April 1 and signed a three-year note payable for the balance.
3. Provided $15,260 in animal care services for customers, all on credit.
4. Rented stables to customers who cared for their own animals; received cash of $13,200.
5. Received from a customer $1,500 to board her horse in May, June, and July (record as Deferred Revenue).
6. Purchased hay and feed supplies on account for $3,210.
7. Paid $840 in cash for water utilities incurred in the month.
8. Paid $1,700 on accounts payable for previous purchases.
9. Received $1,000 from customers on accounts receivable.
10. Paid $4,000 in wages to employees who worked during the month.
11. At the end of the month, prepaid a two-year insurance policy for $3,600.
12. Received an electric utility bill for $1,200 for usage in April; bill will be paid next month.

Required:
1. & 2. Record in the T-accounts the effects of each transaction for Sunny Valley Stables in April, referencing each transaction in the accounts with the transaction letter. All accounts begin with zero balances. Show the unadjusted ending balances in the T-accounts.

3. Prepare an unadjusted trial balance as of April 30, 2017.

Calculate and record the regression equation. Write a paragraph discussing the slope of the regression equation and how it relates to your topic. Use the following data points.