Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 08 Jan 2018 My Price 9.00

Tyson Furniture

Tyson Furniture has $100,000 in excess cash that it wants to invest in one or more cash equiva- lents. The treasurer has researched two money market accounts and two certificates of deposit (CDs) offered by four major banks. This is the information she gathered:

 

 

 

Accounts

Net credit sales for the year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

 

$8,000,000

 

Accounts receivable at year-end  . . . . . . . . . . . . . . . . . . . . . . . . . . . .

 

1,750,000

 

Uncollectible accounts receivable:

 

 

 

Actually written off during the year . . . . . . . . . . . . . . . . . . . . . . . . .

$96,000

 

 

Estimated portion of year-end receivables expected to prove uncollectible (per aging schedule). . . . . . . . . . . . . . . . . . . . . . . .

 

  84,000

 

180,000

 
 

Reporting Uncollectible

 

 

 

 

 

 

 

 

 

 

                                                     

The two 90-day certificates of deposit are FDIC insured for up to $100,000. The money market accounts are not FDIC insured.

Suggest how Tyson Furniture might allocate its $100,000 cash among these four opportunities.

Discuss the trade-offs that management must consider.

Answers

Maurice Tutor
(5)
Status NEW Posted 08 Jan 2018 03:01 PM My Price 9.00

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