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need help with red boxes In the coming year, Sunland, Inc. will be introducing its first product, a wrist brace that protects serious video gamers
need help with red boxes
In the coming year, Sunland, 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: 3rd Quarter 4th Quarter 1st Quarter 2nd Quarter 24,000 41.000 Budgeted sales units 50,000 82.000 Prepare Sunland, Inc.'s cash receipts budget for the coming year. (Enter answers in necessary fields only. Leave other fields blank. Do not enter 0. Round answers to decimal places, eg. 5,275.) Sales Budget 3rd Quarter 1st Quarter 2nd Quarter 4th Budgeted units sold 24000 41000 50000 $ 13 $ Budgeted sales price 13 $ 13 $ $ 312000 533000 $ Budgeted sales revenue 650000 Prepare Sunland, Inc's cash receipts budget for the coming year. (Enter answers in necessary fields only. Leave other fields blank. Do not enter 0. Round answers to decimal places, eg. 5,275.) Sales Budget 3rd Quarter 2nd Quarter 4th Quarter Annual 1000 41000 50000 82000 13 13 $ 13 $ 13 2000 S 533000 $ 650000 $ 650000 S Cash Receipts Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quar 1st quarter sales 202800 $ 93600 $ 0 2nd quarter sales 0 346450 159900 3rd quarter sales 0 0 422500 4th quarter sales O 0 0 Totals 202.800 S 440050 $ 587400 $ Cash Receipts Budget 3rd Quarter 4th Quarter Total Cash Receipts Bad Debts 13600 $ 0 $ 0 $ 16450 159900 0 422500 195,000 0 0 692.900 10050 582400 887900 $ Step by Step Solution
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