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Ellen, Lawyer
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Experience:  Lawyer, Accountant and Researcher
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Jake Marley, owner of Marley wholesale, is negotiating with

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Jake Marley, owner of Marley wholesale, is negotiating with the bank for a $200,000, 90 –day, 12 percent loan effective July 1 of the current year. If the bank grants the loan, the proceeds will be $194,000, which Marley intends to use on July 1 as follows: Pay accounts payable, $150,000; purchase equipment, $16,000; add to bank balance, $28,000. The current working capital position of Marley wholesale, according to financial statements as of June 30, is as follows:
Cash in bank……………………………………….. $20,000
Receivables (net of allowance for doubtful accounts) 160,000
Merchandise inventory……………………………… 190,000
Total current assets…………………………………. $270,000
Accounts payable (including accrued operating expenses 150,000
Working capital $120,000
The bank loan officer ask Marley to prepare a forecast of his receipts and cash payments for the next three months to demonstrate that the loan can be repaid at the end of September. Marley has made the following estimates, which are to be used in preparing a three-month cash budget: Sales (all on account) for July, $300,000: August, $360,000; September, $270,000; and October, $200,000. Past experience indicates that 80 percent of the receivables generated in the second month following the sale, and 1 percent will prove uncollectible. Marley expects to collect $120,000 of the June 30 receivables in July and the remaining $40,000 in August. Cost of goods sold consistently has averaged about 65 percent of sales. Operating expenses are budgeted at $36,000 per month plus 8 percent of sales. With the exception of $4,400 per month depreciation expense, all operating expenses and purchases are on account and are paid in the month following their incurrence. Merchandise inventory at the end of each month should be sufficient to cover the following month’s sales.
a. Prepare a monthly cash budget showing estimated cash receipts and cash payments for July, August, and September, and the cash balance at the end of each month. Supporting schedules should be prepared for estimated collections on receivables, estimated merchandise purchases, and estimated payments for operating expenses and of accounts payable for merchandise purchases.
b. On the basis of this cash forecast, write a brief report to Marley explaining whether he will be able to repay the $200,000 bank loan at the end of September.

Thank you for your question

I am working on your answer. 20 min. please.
Customer: replied 4 years ago.

thank you, XXXXX XXXXX need it in 4 hours maximum

Customer: replied 4 years ago.

accompanying shedules, if any, should be submitted via an excel file

Thank you so much for your patience

Here are my answers for comparison with your own:

If you have any further questions, I am happy to assist you. You can start your new question with "for FiveStarLaw" and send it to the appropriate legal, tax or homework category so that the question is directed to me and I can give your question my immediate attention

Thank you very much,
Customer: replied 4 years ago.

I can download only one page excel sheet with a very brief comment. While trying to download the ppdf version the system shows 4 pages but uploads just the first one and then it keeps on loading without showing the content (see image attached)


It is only one page. If you look at the answers you will see a Cash budget and 4 supporting schedules followed by a brief comment for the report to Marley.
Customer: replied 4 years ago.

sorry to bother but I don't understand where you consider the amount of 28.000 USD (amount added to the bank balance).


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Ellen and 2 other Homework Specialists are ready to help you

Thank you very much for the "excellent service" rating!

If I can be of assistance in the future, begin your question with: "For FiveStarLaw"
Customer: replied 4 years ago.

Hi, sorry to bother but I received an incomplete answer from a tutor and I need to post my assignement shortly. I'm not going to pay for his service, shall I switch to you and post the question?


Yes I would be glad to assist – be certain to start the question with: "For FiveStarLaw"
Customer: replied 4 years ago.

Mr. -smith, the only active professional fisherman in Amsterdam, notices the following relationship between the hours he spends fishing and the quantity of fish caught:


Quantity (in pounds)














Based on this information, complete the following in a 2-page document including graphs:

1) What is the marginal product of each hour spent fishing?

2)Use these data to graph Mr. Smith’s production function. Explain its shape.

  • 3)Mr. Smithhas a fixed cost of $10 (his pole). The opportunity cost of his time is $5 per hour. Graph his total cost curve, and explain its shape.

This assigmant is under the topics of short run production, opportunity costs, marginal costs. I would need an excel file with the graphs and the comment. I must post it in one hour...thanks a lot

I apologize but there is no way I can complete this project in one-hour. You may be better off having the expert that you were working with make the appropriate changes
Customer: replied 4 years ago.

ok, thanks a lot and hear you next time. Best regards


Thank you for thinking of me – I wish you the best this holiday season