Exercise 14-3 Preparing a schedule of cash receipts The budget director of Natalia's Florist has prepared the following sales budget. The company had $100,000 in accounts receivable on July 1. Natalia's Florist normally collects 100 percent of accounts receivable in the month following the month of sale. July 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 $ 80,000 90,000 $170,000 August $ 85,000 108,000 $193,000 2.2 ? ? ? $180,000 $175,000 ? September $ 90,000 129,600 $219,000 ? ? $198,000 Required a. Complete the schedule of cash receipts by filling in the missing amounts. b. Determine the amount of accounts receivable the company will report on its third quarter pro forma balance sheet. LO 14-2

Exercise 14-3 Preparing a schedule of cash receipts The budget director of Natalia's Florist has prepared the following sales budget. The company had $100,000 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. b. Determine the amount of accounts receivable the company will report on its third quarter pro forma balance sheet