New tab mynait portal - Searc Course: ACCT2260 - Assignment #4 - Chi Question 14 of 14 - https://education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=410d6457-d5b4-4d71-a041-0aaa3f4dc6... #4 - Chapter 10 Question 14 of 14 -/ 44 Shamrock Ins (2024)

New tabmynait portal - SearcCourse: ACCT2260 -Assignment \#4 - ChiQuestion 14 of 14 -https://education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=410d6457-d5b4-4d71-a041-0aaa3f4dc6...\#4 - Chapter 10Question 14 of 14\( -/ 44 \)Shamrock Instruments, a rapidly expanding electronic parts distributor, is formulating its plans for 2022. Matthew Young, the firm's director of marketing, has completed his 2022 forecast and is confident that the company will meet or exceed sales estimates. The following sales figures show the growth that is expected and are the basis for planning in the other corporate departments:\begin{tabular}{lrlr}\hline Month & Forecast Sales & Month & Forecast Sales \\\hline January & \( \$ 3,472,000 \) & July & \( 4,960,000 \) \\February & \( 3,720,000 \) & August & \( 4,960,000 \) \\March & \( 3,472,000 \) & September & \( 5,208,000 \) \\April & \( 3,968,000 \) & October & \( 5,208,000 \) \\May & \( 4,340,000 \) & November & \( 4,960,000 \) \\June & \( 4,712,000 \) & December & \( 5,456,000 \) \\\hline\end{tabular}James King, assistant controller, is responsible for the cash flow projection, a critical element during a period of rapid expansion. She will use the following information in preparing her cash analysis:1. Shamrock has experienced an excellent record in accounts receivable collection and expects this trend to continue. The company collects \( 50 \% \) of billings in the month after the sale and \( 50 \% \) in the second month after the sale. Uncollectible accounts are nominal and can be ignored in the analysis.2. The purchase of electronic parts is Shamrock's largest expenditure; the cost of these items is equal to \( 60 \% \) of sales. Shamrock receives \( 40 \% \) of the parts one month before it sells them and \( 60 \% \) during the month of sale.3. Historically, Shamrock has cleared \( 60 \% \) of the accounts payable one month after it receives its purchases, and the remaining

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