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 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 $ 67,000 $ 76,000 $ 81000 82,000 109,000 123,600 $ 149,000 S 185,000 $204,600 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 5417 000 $ 158,000 5 190.000 SR Required B > 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 filing in the missing amounts b. Determine the amount of accounts receivable the company will report on its third quarter to forma balance sheet Complete this question by entering your answers in the tabs below. Heuved Required Determine the amount of accounts receivable the company will report on its third quarter pro forma balance sheet Accounts to

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

Auditing Organizational Communication A Handbook Of Research Theory And Practice

Authors: Owen Hargie, Dennis Tourish

2nd Edition

0415414466, 978-0415414463

More Books

Students also viewed these Accounting questions

Question

Evaluate the importance of diversity in the workforce.

Answered: 1 week ago

Question

Identify the legal standards of the recruitment process.

Answered: 1 week ago