Exercise 14-3 Preparing a schedule of cash receipts LO 14-2

The budget director of Heathers Florist has prepared the following sales budget. The company had $270,000 in accounts receivable on July 1. Heathers Florist normally collects 100 percent of accounts receivable in the month following the month of sale.

Required

1. Complete the schedule of cash receipts by filling in the missing amounts.
2. Determine the amount of accounts receivable the company will report on its third quarter pro forma balance sheet.

Complete this question by entering your answers in the tabs below. Required A Required B Complete the schedule of cash receipts by filling in the missing amounts. July August September $ 79,000 95,000 $ 174,000 $ 81,000 115,000 $ 196,000 $ 78,000 120,600 $ 198,600 Sales Budget Cash sales Sales on account Total budgeted sales Schedule of Cash Receipts Current cash sales Plus: Collections from accounts receivable Total budgeted collections $ 349,000 $ 176,000 $ 193,000 Required A Required B > Complete this question by entering your answers in the tabs below. Required A Required B Determine the amount of accounts receivable the company will report on its third quarter pro forma balance sheet. Accounts receivable