Question
Budgeted sales for the 2 nd quarter operations are shown in the following table: Sales April May June Cash Sales $ 500 Sales on Account
Budgeted sales for the 2nd quarter operations are shown in the following table:
| Sales | April | May | June | |
| Cash Sales | $ | 500 | ||
| Sales on Account | $ | 800 | ||
The company expects a 25% increase in sales per month for May and June. Also, the company expects to collect cash from receivables in the month following the month in which the receivables are established. The amount of accounts receivable appearing on the pro forma balance sheet would be
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Intermediate Accounting 2007 FASB Update Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
12th Edition
0470128763, 978-0470128763
