On may 1, vaya corp. had a beginning cash balance of $320. vaya's sales for april were $330 and may sales were $450. during may, the firm had cash expenses of $175 and made payments on accounts payable of $260. vaya's accounts receivable period is 30 days. what is the firm's beginning cash balance on june 1?

Palmer frosted flakes company offers its customers a pottery cereal bowl if they send in 3 boxtops from palmer frosted flakes boxes and $1. the company estimates that 60% of the boxtops will be redeemed. in 2012, the company sold 675,000 boxes of frosted flakes and customers redeemed 330,000 boxtops receiving 110,000 bowls. if the bowls cost palmer company $3 each, how much liability for outstanding premiums should be recorded at the end of 2012?