Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Exercise 14-3A (Algo) Preparing a schedule of cash receipts Lo 14-2 The budget director of Heather's Florist has prepared the following sales budget. The company

image text in transcribed
image text in transcribed
Exercise 14-3A (Algo) Preparing a schedule of cash receipts Lo 14-2 The budget director of Heather's Florist has prepared the following sales budget. The company had $350,000 in accounts receivable on July 1. Heather'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 Bock Hint Complete this question by entering your answers in the tabs below. Required A Required Complete the schedule of cash receipts by filling in the missing amounts References July August September 5 64,000 $ 91 000 155.000 $ 78,000 $ 75.000 113,000 133.600 191.000 $ 200.000 S Sales Budget Cosh salos Saison count Total budgeted sales Schedule of Cash Receipts Current cash sales Plus Collections from accounts receivable Total budged collections 5 414,000 $ 169,000 $ 160.000 Required Exercise 14-3A (Algo) Preparing a schedule of cash receipts LO 14-2 The budget director of Heather's Florist has prepared the following sales budget. The company had $350,000 in accounts receivable on July 1. Heather's Florist normally collects 100 percent of accounts receivable in the month following the month of sale. Required #. 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 Complete this question by entering your answers in the tabs below: Required Required Determine the amount of accounts receivable the company will report on its third quarter pro forma balance sheet Accounts receivable Required A

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Beyond Compliance Design Of A Quality System Tools And Templates For Integrating Auditing Perspectives

Authors: Janet Bautista Smith, Robert Alvarez

1st Edition

1951058232, 978-1951058234

More Books

Students also viewed these Accounting questions

Question

6. Explain the strengths of a dialectical approach.

Answered: 1 week ago

Question

2. Discuss the types of messages that are communicated nonverbally.

Answered: 1 week ago