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7. Preparing a cash budget Step 1: Determining cash inflows from operations o Projected sales revenue: December January February March $90,000 (end of current year) 80,000 96,000 (from Sales Budget) 120,000 Miles sells all merchandise on credit Miles expects to collect: Cash Recei ts From prior month Dec. $ Jan. $ Feb. $ From current month Jan. $ Feb. $ Mar. $ Total cash receipts 75% of its accounts receivable in the month when the sale was made 24% in the next month after the sale was made 1% is expected to be bad debt Janua Februa March 7. Preparing a cash budget Step 1: Determining cash inflows from operations o Projected sales revenue: December January February March $90,000 (end of current year) 80,000 96,000 (from Sales Budget) 120,000 Miles sells all merchandise on credit Miles expects to collect: Cash Recei ts From prior month Dec. $ Jan. $ Feb. $ From current month Jan. $ Feb. $ Mar. $ Total cash receipts 75% of its accounts receivable in the month when the sale was made 24% in the next month after the sale was made 1% is expected to be bad debt Janua Februa March