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Music World reports the following sales forecast: August, $180,000; and September, $210,000. Cash sales are normally 50% of total sales and all credit sales are
Music World reports the following sales forecast: August, $180,000; and September, $210,000. Cash sales are normally 50% of total sales and all credit sales are expected to be collected in the month following the date of sale. Prepare a schedule of cash receipts for September. MUSIC WORLD Cash Receipts Budget For Month Ended September 30 September cash sales Collection of accounts receivable Total budgeted cash receipts $ 105,000 105,000 $ 210,000
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