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Budgeted accounts receivable; cash; and income statement In preparing its Budget for July, Wade Inc. has the following information available: Accounts Receivable at June 30

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Budgeted accounts receivable; cash; and income statement In preparing its Budget for July, Wade Inc. has the following information available: Accounts Receivable at June 30 $ 789,000 Estimated credit sales for July 907,000 Estimated collections in July for credit sales in July and prior months 695,000 Estimated write-offs in July for uncollectible credit sales 30, 200 Estimated provision for uncollectible accounts for credit sales in July 23, 200 What is the projected balance of Accounts Receivable at July 31? $_____ Which of these amounts (if any) will affect the cash budget? Cash collections, $695,000 Which of these amounts (if any) will affect the budgeted income statement for July? Credit sales, $907,000 and the provision for uncollectible account, $73, 700

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