Bluebird Ltd has provided the following forecasted items for the months
Bluebird Ltd has provided the following forecasted items for the months of July through to September 2020. July August September $ $ $ Sales 13,000 14,000 15,000 Purchases 9,400 8,000 10,000 Operating expenses 3,600 6,400 5,000 Other Information: 35% of Sales are cash sales, the remaining 65% of credit sales which are collected as follows: 30% in the month of the sale 50% in the month after the sale 28% in the 2nd month after the sale 2% are never collected due to the customer going bankrupt Sales in the months of May and June were $11,000 and $10,000 respectively. Operating expenses include depreciation expense. Depreciation expense each month is $900. All expenses and purchases are paid for in the…
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