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Could you do a breakdown of Part B please? The budget director of Natalia's Florist has prepared the following sales budget. The company had $340,000
Could you do a breakdown of Part B please?
The budget director of Natalia's Florist has prepared the following sales budget. The company had $340,000 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. July August September Sales Budget Cash sales $ 68,000 $ 76,000 $ 67,000 86,000 Sales on account 100,000 136,600 Total budgeted sales $ 153,000 $ 168,000 $ 212,600 Schedule of Cash Receipts Current cash sales $ 67,000 $ 68,000 $ 76,000 Plus: Collections from accounts receivable 86,000 100,000 340,000 $ 407,000 Total budgeted collections $ 154,000 $ 176,000 b. Determine the amount of accounts receivable the company will report on its third quarter pro forma balance sheet. Accounts receivableStep by Step Solution
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