Current Attempt in Progress 4 Your answer is partially correct. Crane/Neff, Ltd. personalizes scrapbooks for customers, using their digital photographs. Each scrapbook sells for $35. Crane/Neff collects cash at the time of sale from 30% of customers. Of the remaining sales, 75% are collected in the month of sale and 25% are collected in the month following the sale. The sales budget for the first six months of the year is as follows: January February March April May June Budgeted sales $117,000 $107,000 $107,000 $109,000 $112,000 $122,000 Prepare Crane/Neff's cash receipts budget for the second quarter. (Enter answers in necessary fields only, Leave other fields blank. Do not enter 0.) April May June Total Cash Re Cashsales $ 32,700 $ | 33,600 $ 36,600 $ March sales April sales 57,225 | 19,075 | May sales 58,800 | 19,600 June sales | 64,050 Totals $ 108,650 $ | 111,475 $ | 120,250 Calculate the accounts receivable balance at the end of second quarter. Accounts Receivable balance at the end of second quarter $ $21,350 eTextbook and Media Savefor Later Last saved 1 second ago. Saved work will be auto-submitted on the due date. Auto-submission can take up to 10 minutes. Attempts: 1of 4used | Submit Answer | GS View Policies Current Attempt in Progress Debra King, Waterway & Gary Fabricators' accounts payable manager, has just received the company's direct materials purchases budget for the first quarter. January February March Quarter Budgeted purchase cost $253,000 $267,000 $280,000 $800,000 The company makes all of its direct materials purchases on account. Debra's recent review of the company's payment history revealed that the company pays for 25% of its direct materials purchases in the month of purchase and 75% in the month following purchase. The company expects to have an accounts payable balance of $18,000 on January 1, and this amount represents the remaining payables from December's direct materials purchases. Prepare Waterway & Gary's cash payments budget for the first Quarter. (Enter answers in necessary fields only. Leave other fields blank. Do not enter 0.) (Wee lle oi8 Total January February March Payn December A/P $ $ $ $ January purchases February purchases March purchases Total $ $ $ $ Calculate the accounts payable balance at the end of first Quarter. Accounts Payable balance $