Question
1.Prepare a cash budget given the following data: Budgeted sales for: April25,000 units May70,000 units June50,000 units The selling price is $25 per unit. April
1.Prepare a cash budget given the following data:
Budgeted sales for:
April25,000 units
May70,000 units
June50,000 units
The selling price is $25 per unit.
April
May
June
Quarter
Budgeted sales in units
Selling price per unit
Total budgeted sales
All sales are on account
60% collected in the month of the sale
40% collected in the month following the sale
In April, the 31 March accounts receivable balance of $45,000 will be collected in April.
Expected Cash Collection: Construct a cash collection schedule for April, May, June and a total for the Quarter.
April
May
June
Quarter
A/R 31 March
45000
April Sales
May Sales
June Sales
Totals
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Comparative international accounting
Authors: Christopher nobes, Robert parker
9th Edition
273703579, 978-0273703570
