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QUESTION 3 The budget of Georgie's Corp. has prepared the following sales budget. Georgie's Corp. normally collects 100 percent of accounts receivable in the month
QUESTION 3 The budget of Georgie's Corp. has prepared the following sales budget. Georgie's Corp. normally collects 100 percent of accounts receivable in the month following the month of sale. Also, expects to increase a 10 percent in cash sales and sales on account for February and a decreased of 5 percent for March. SALES JANUARY FEBRUARY MARCH Sales Budget Cash Sales $95,000 Sales on Account 128,000 $133,760 Total Budgeted Sales $223,000 Schedule of Cash Receipts Current cash sales $95,000 SO Plus collections from Acc. Rec. $95,000 Total Budgeted Collections Complete the table. ble for an answers
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