Attached
is a copy of the week’s research terms. Topics will be selected on a
first come first serve basis. To claim a topic, go to this week’s
discussion forum (below) and check what topics remain available. Select
an available topic and start a new discussion thread by placing ONLY
the topic in the Subject Line (do not put your name or anything else
here). Leave the body of the thread blank and save the post. In weeks
where there are insufficient topics for everyone; once all topics have
been selected you may then start selecting from the entire list again.
But there should never be three posts on the same topic – if so the last
one posted will receive no credit.

After
your topic selection, research your selected topic in the university’s
electronic library from only academic (refereed) journals. You will
need at least three journal references and the textbook. Start your
research with the textbook so it always grounds your topic. When your
research is complete post it in the discussion forum below.

1. Structure your paper as follows:
   1. Cover page
   2. Overview describing the importance of the research topic to current business and professional practice in your own words.
   3. Purpose of Research should
      reflect the potential benefit of the topic to the current business and
      professional practice and the larger body of research.
   4. Review of the Literature summarized
      in your own words. Note that this should not be a “copy and paste” of
      literature content, nor should this section be substantially filled with
      direct quotes from the article. A literature review is a summary of the
      major points and findings of each of the selected articles (with
      appropriate citations). Direct quotations should be used sparingly.
      Normally, this will be the largest section of your paper (this is not a
      requirement; just a general observation).
   5. Practical Application of
      the literature. Describe how your findings from the relevant research
      literature can shape, inform, and improve current business and
      professional practice related to your chosen topic.
   6. Conclusion in your own words
   7. References formatted according to APA style requirements

Attached is a copy of the week’s research terms. Topics will be selected on a first come first serve basis. To claim a topic, go to this week’s discussion forum (below) and check what topics remain available. Select an available topic and start a new discussion thread by placing ONLY the topic in the Subject Line (do not put your name or anything else here). Leave the body of the thread blank and save the post. In weeks where there are insufficient topics for everyone; once all topics have been selected you may then start selecting from the entire list again. But there should never be three posts on the same topic – if so the last one posted will receive no credit.

After your topic selection, research your selected topic in the university’s electronic library from only academic (refereed) journals. You will need at least three journal references and the textbook. Start your research with the textbook so it always grounds your topic. When your research is complete post it in the discussion forum below.

1. Structure your paper as follows:
   1. Cover page
   2. Overview describing the importance of the research topic to current business and professional practice in your own words.
   3. Purpose of Research should reflect the potential benefit of the topic to the current business and professional practice and the larger body of research.
   4. Review of the Literature summarized in your own words. Note that this should not be a “copy and paste” of literature content, nor should this section be substantially filled with direct quotes from the article. A literature review is a summary of the major points and findings of each of the selected articles (with appropriate citations). Direct quotations should be used sparingly. Normally, this will be the largest section of your paper (this is not a requirement; just a general observation).
   5. Practical Application of the literature. Describe how your findings from the relevant research literature can shape, inform, and improve current business and professional practice related to your chosen topic.
   6. Conclusion in your own words
   7. References formatted according to APA style requirements

Start with the partial model in the file attached. Marvel Pence, CEO of Marvel’s Renovations, a custom building and repair company, is preparing documentation for a line of credit request from his commercial banker. Among the required documents is a detailed sales forecast for parts of 2020 and 2021:

Estimates obtained from the credit and collection department are as follows: collections within the month of sale, 20%; collections during the month following the sale, 60%; collections the second month following the sale, 25%. Payments for labor and raw materials are typically made during the month following the one in which these costs were incurred. Total costs for labor and raw materials are estimated for each month as shown in the table. General and administrative salaries will amount to approximately $25,000 a month; lease payments under long-term lease contracts will be $7,000 a month; depreciation charges will be $8,000 a month; miscellaneous expenses will be $5,000 a month; income tax payments of $30,000 will be due in both August and December; and a progress payment of $95,000 on a new office suite must be paid in October. Cash on hand on July 1 will amount to $70,000, and a minimum cash balance of $30,000 will be maintained throughout the cash budget period.

a. Prepare a monthly cash budget for the last 6 months of 2020.

b. Prepare an estimate of the required financing (or excess funds)—that is, the amount of money Marvel’s Renovations will need to borrow (or will have available to invest)—for each month during that period.

c. If its customers began to pay late, this would slow down collections and thus increase the required loan amount. Also, if sales dropped off, this would have an effect on the required loan amount. Perform a sensitivity analysis that shows the effects of these two factors on the maximum loan requirement.

Submit your answers in a Word document.