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Smith Inc. desires a minimum ending cash balance each month of $11,000. The ties ae sold to retailers for $9 each. Recent and forecasted sales in units are as follows:
January (actual) . . . . . . . . . 20,000
February (actual) . . . . . . . . 24,000
March (actual) . . . . . . . . . . 28,000
April . . . . . . . . . . . . . . . . . . 35,000
May . . . . . . . . . . . . . . . . . . 45,000
June . . . . . . . . . . . . . . . . . . 60,000
July . . . . . . . . . . . . . . . . . . 40,000
August . . . . . . . . . . . . . . . 36,000
September . . . . . . . . . . . . . 32,000
The large build-up in sales before and during June is due to Father's Day. Ending inventories are supposed to equal 90% of the next month's sales in units. The ties cost the company $5 each.
Purchases are paid for as follows: 50% in the month of purchases and the remaining 50% in the following month. All sales are on credit, with no discount, and payable within 15 days. The company has found, however, that only 25% of a month's sales are collected by month-end. An additional 75% is collected in the following month. Bad debts have been negligible. I'm trying to figure where I went wrong for the Schedule of Expected Cash Collection. Can someone help me get on the right track?

Smith Inc. desires a minimum ending cash balance each month of $11,000. The ties are sold to retailers for $9 each. Recent and forecasted sales in units are as follows:
January (actual) . . . . . . . . . 20,000
February (actual) . . . . . . . . 24,000
March (actual) . . . . . . . . . . 28,000
April . . . . . . . . . . . . . . . . . . 35,000
May . . . . . . . . . . . . . . . . . . 45,000
June . . . . . . . . . . . . . . . . . . 60,000
July . . . . . . . . . . . . . . . . . . 40,000
August . . . . . . . . . . . . . . . 36,000
September . . . . . . . . . . . . . 32,000
The large build-up in sales before and during June is due to Father's Day. Ending inventories are supposed to equal 90% of the next month's sales in units. The ties cost the company $5 each.
Purchases are paid for as follows: 50% in the month of purchases and the remaining 50% in the following month. All sales are on credit, with no discount, and payable within 15 days. The company has found, however, that only 25% of a month's sales are collected by month-end. An additional 75% is collected in the following month. Bad debts have been negligible. I'm trying to figure where I went wrong for the schedule of expected Cash collection.


[TD="colspan: 5"]Smith, Inc
[/TD]


[TD="colspan: 5"]Schedule of expected Cash Collections
[/TD]


[TD="colspan: 5"]For the Quarter Ending June 30, 2014
[/TD]



















































April
May
June
Quarter
February Sales
54,000
0
0
54,000
March Sales
189,000
63,000
0
252,000
April Sales
78,750
236,250
78,750
393,750
May Sales
0
101,250
202,500
303,750
June Sales
0
0
135,000
135,000
Total Cash Collections
321,750
400,500
416,250
1,138,500
0
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