Question: chapter 7 group work keep getting them wrong please help! Saved Exercise 7-3A Preparing a schedule of cash receipts LO 7-2 The budget director of

chapter 7 group work keep getting them wrong please help!  chapter 7 group work keep getting them wrong please help! Saved
Exercise 7-3A Preparing a schedule of cash receipts LO 7-2 The budget

Saved Exercise 7-3A Preparing a schedule of cash receipts LO 7-2 The budget director of Heather's Florist has prepared the following sales budget. The company had $300,000 in accounts receivable on July 1. Heather's Florist normally collects 100 percent of accounts receivable in the month following the month of sale. Required a. Complete the schedule of cash receipts by filling in the missing amounts. b. Determine the amount of accounts receivable the company will report on its third quarter pro forma balance sheet. Complete this question by entering your answers in the tabs below. Required A Required B Complete the schedule of cash receipts by filling in the missing amounts. July August September $ 65,000 $ 81,000 146,000 $ 72,000 $ 103,000 175,000 $ 81,000 126,600 207,600 $ Sales Budget Cash sales Sales on account Total budgeted sales Schedule of Cash Receipts Current cash sales Plus: Collections from accounts receivable Total budgeted collections $ 365,000 $ 153,000 $ 184,000 Required 3 > Saved Exercise 7-3A Preparing a schedule of cash receipts LO 7-2 The budget director of Heather's Florist has prepared the following sales budget. The company had $300,000 in accounts receivable on July 1. Heather's Florist normally collects 100 percent of accounts receivable in the month following the month of sale. Required a. Complete the schedule of cash receipts by filling in the missing amounts. b. Determine the amount of accounts receivable the company will report on its third quarter pro forma balance sheet. Complete this question by entering your answers in the tabs below. Required A Required B Determine the amount of accounts receivable the company will report on its third quarter pro forma balance sheet Accounts receivable

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!