The budget director of Heather's Florist has prepared the following sales budget. The company had $220,000...

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The budget director of Heather's Florist has prepared the following sales budget. The company had $220,000 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. 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 July $ August September 74,000 $ 77,000 $ 80,000 85,000 110,000 122,600 $ 159,000 $ 187,000 $ 202,600 $294,000 $ 162,000 $ 190,000 The budget director of Heather's Florist has prepared the following sales budget. The company had $220,000 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 < Required A Required B The budget director of Heather's Florist has prepared the following sales budget. The company had $220,000 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. 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 July $ August September 74,000 $ 77,000 $ 80,000 85,000 110,000 122,600 $ 159,000 $ 187,000 $ 202,600 $294,000 $ 162,000 $ 190,000 The budget director of Heather's Florist has prepared the following sales budget. The company had $220,000 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 < Required A Required B

Answer rating: 100% (QA)

a The missing amounts in the schedule of cash receipts can be calculated as follows July Current cas... View the full answer