Question: n the coming year, Oriole, Inc. will be introducing its first product, a wrist brace that protects serious video gamers from repetitive-motion injuries. The brace
n the coming year, Oriole, Inc. will be introducing its first product, a wrist brace that protects serious video gamers from repetitive-motion injuries. The brace will be sold for $13.00 to retailers throughout the country. All sales will be made on account. An expected 65% of sales will be collected within the quarter of the sale, and another 30% in the quarter following the sale. The remaining 5% of credit sales are expected to be uncollectible. The sales budget for the coming year is as follows:
| 1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Budgeted sales units | 28,000 | 43,000 | 54,000 | 75,000 |
Prepare Oriole, Inc.'s cash receipts budget for the coming year. (Enter answers in necessary fields only. Leave other fields blank. Do not enter 0. Round answers to 0 decimal places, e.g. 5,275.)
| Cash Receipts Budget | |||||||
|---|---|---|---|---|---|---|---|
| 1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | Total Cash Receipts | Bad Debts | ||
| 1st quarter sales | $enter a dollar amount | $enter a dollar amount | $enter a dollar amount | $enter a dollar amount | $enter a dollar amount | $enter a dollar amount | |
| 2nd quarter sales | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | |
| 3rd quarter sales | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | |
| 4th quarter sales | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | |
| Totals | $enter a total amount | $enter a total amount | $enter a total amount | $enter a total amount | $enter a total amount | $enter a total amount | |
Determine the Net Accounts Receivable at the end of the year.
| Net Accounts Receivable | $enter the net accounts receivable in dollars |
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