Cash receipts the sales budget for andrew inc. is forecasted as follows: month sales revenue may $ 170,000 june 210,000 july 230,000 august 170,000 to prepare a cash budget, the company must determine the budgeted cash collections from sales. historically, the following trend has been established regarding cash collection of sales: 50 percent in the month of sale. 25 percent in the month following sale. 20 percent in the second month following sale. 5 percent uncollectible. the company gives a 2 percent cash discount for payments made by customers during the month of sale. the accounts receivable balance on april 30 is $34,000, of which $10,000 represents uncollected march sales and $24,000 represents uncollected april sales.

prepare a schedule of budgeted cash collections from sales for may, june, and july. include a three-month summary of estimated cash collections.

Which of the following statements is correct? a. the managers of established, stable companies sometimes attempt to get their state legislatures to remove rules that make it more difficult for raiders to succeed with hostile takeovers. b. hostile takeovers are most likely to occur when a firm's stock is selling below its intrinsic value as a result of poor management. c. stockholders in general would be better off if managers never disclosed favorable events and therefore caused the price of the firm's stock to sell at a price below its intrinsic value. d. the efficiency of the u.s. economy would probably be increased if hostile takeovers were absolutely forbidden. e. in general, it is more in bondholders' interests than stockholders' interests for a firm to shift its investment focus away from safe, stable investments and into risky investments, especially those that primarily involve research and development. icon key question 6 of 10 b multiple choice 01-060