Consider the following for the business Weary & Co.:

Actual Sales for November are $11,000 and for December $12,000.

Budgeted Sales for January are $13,000, for February $14,000 and March $15,000.

Sales are 90% credit and 10% cash. No GST.

Weary & Co. budgets to collect accounts receivable as 50% in the month of the sale, 30% in the month after the sale and 20% in the second month after the sale.

Based on this information, the cash receipts budget for the months of January, February and March respectively will be?

Answer rating: 100% (QA)

To calculate the cash receipts budget for the months of January February and March we need to consid... View the full answer