The budget director of Heather's Florist has prepared the following sales budget. The company had $125,600...

Transcribed Image Text:

The budget director of Heather's Florist has prepared the following sales budget. The company had $125,600 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 July August September Cash sales Sales on account Total budgeted sales Schedule of Cash Receipts Current cash sales Plus: Collections from accounts receivable Total budgeted collections $ 62,000 $ 73,000 $ 78,000 105,000 125,600 $ 154,000 $ 178,000 $ 203,600 92,000 $ 187,600 $ 165,000 $ 183,000 The budget director of Heather's Florist has prepared the following sales budget. The company had $125,600 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 July August September Cash sales Sales on account Total budgeted sales Schedule of Cash Receipts Current cash sales Plus: Collections from accounts receivable Total budgeted collections $ 62,000 $ 73,000 $ 78,000 105,000 125,600 $ 154,000 $ 178,000 $ 203,600 92,000 $ 187,600 $ 165,000 $ 183,000