Benson Company, which expects to start operations on January 1, year 2, will sell digital cameras...
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Benson Company, which expects to start operations on January 1, year 2, will sell digital cameras in shopping malls. Benson has budgeted sales as indicated in the following table. The company expects a 15 percent increase in sales per month for February and March. The ratio of cash sales to sales on account will remain stable from January through March. Required a. Complete the sales budget by filling in the missing amounts. b. Determine the amount of sales revenue Benson will report on its first quarter pro forma income statement. Complete this question by entering your answers in the tabs below. Required A Required B Complete the sales budget by filling in the missing amounts. (Do not round intermediate calculations. Round final answers to two decimal places.) Sales February March Cash sales $ January 42,000 120,000 Sales on account Total budgeted sales $ 162,000 $ 0.00 $ 0.00 Benson Company, which expects to start operations on January 1, year 2, will sell digital cameras in shopping malls. Benson has budgeted sales as indicated in the following table. The company expects a 15 percent increase in sales per month for February and March. The ratio of cash sales to sales on account will remain stable from January through March. Required a. Complete the sales budget by filling in the missing amounts. b. Determine the amount of sales revenue Benson will report on its first quarter pro forma income statement. Complete this question by entering your answers in the tabs below. Required A Required B Complete the sales budget by filling in the missing amounts. (Do not round intermediate calculations. Round final answers to two decimal places.) Sales February March Cash sales $ January 42,000 120,000 Sales on account Total budgeted sales $ 162,000 $ 0.00 $ 0.00
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a Complete the sales budget Sales Increme 15 Per mant Ja... View the full answer
Related Book For
Survey Of Accounting
ISBN: 9781260575293
6th Edition
Authors: Thomas Edmonds, Christopher Edmonds, Philip Olds
Posted Date:
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