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ces The budget director of Natalia's Florist has prepared the following sales budget. The company had $250,000 in accounts receivable on July 1. Natalia's Florist
ces The budget director of Natalia's Florist has prepared the following sales budget. The company had $250,000 in accounts receivable on July 1. Natalia'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. Sales Budget Cash sales Sales on account Total budgeted sales Schedule of Cash Receipts Current cash sales. July August September $ 65,000 $75,000 $86,000 95,000 116,000 135,600 $160,000 $191,000 $221,600 Plus: Collections from accounts receivable Total budgeted collections $315,000 $170,000 $202,000 b. Determine the amount of accounts receivable the company will report on its third quarter pro forma balance sheet. Accounts receivable
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