Question
n the coming year, Sheffield, Inc. will be introducing its first product, a wrist brace that protects serious video gamers from repetitive-motion injuries. The brace
n the coming year, Sheffield, Inc. will be introducing its first product, a wrist brace that protects serious video gamers from repetitive-motion injuries. The brace will be sold for $13.00 to retailers throughout the country. All sales will be made on account. An expected 65% of sales will be collected within the quarter of the sale, and another 30% in the quarter following the sale. The remaining 5% of credit sales are expected to be uncollectible. The sales budget for the coming year is as follows:
1st Quarter
2nd Quarter
3rd Quarter
4th Quarter
Budgeted sales units
26,000
46.000
59.000
79,000
Prepare Sheffield, Inc.'s cash receipts budget for the coming year. (Enter answers in necessary fields only. Leave other fields blank. Do not enter O. Round "Budgeted sale price and "Cash Receipts Budgets" answers to 2 decimal places, e.g. 52.75 and all other answers to O decimal places, e.g. 5,275.)
1st Quarter
2nd Quarter
Sales Budget
3rd Quarter
4th Quarter
Budgeted units sold
Budgeted sales price
Budgeted sales revenue
$
$
$
1st Ouarter
2nd Quarter
Cash Receipts Budget
3rd Ouarter
4th Quarter
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