The budget director of Natalias Florist has prepared the following sales budget. The company had $100,000 in
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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 balancesheet.
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July August September Sales Budget Cash sales Sales on account Total budgeted sales $ 80,000 85,000 90,000 108,000 129,600 $170,000 $193,000 $219,000 90,000 Schedule of Cash Receipts Current cash sales Plus: Collections from accounts receivable Total budgeted collections $180,000 175,000 $198,000
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a Schedule of Cash Receipts July August September Current cash sales 80000 8500...View the full answer
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Related Book For
Fundamental Managerial Accounting Concepts
ISBN: 978-0078025655
7th edition
Authors: Thomas Edmonds, Christopher Edmonds, Bor Yi Tsay, Philip Old
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