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Shay, Inc., is preparing its master budget for the quarter ending March 31. It sells a single product for $25 per unit. Budgeted sales for
Shay, Inc., is preparing its master budget for the quarter ending March 31. It sells a single product for $25 per unit. Budgeted sales for the next four months follow.
January | February | March | April | |||||
Sales in units | 1,200 | 1,000 | 1,600 | 1,400 | ||||
In addition, sales are 40% cash and 60% on credit. All credit sales are collected in the month following the sale. The January 1 balance in accounts receivable is $10,000. Prepare a schedule of budgeted cash receipts for January, February, and March. (Input all amounts as positive values. Omit the "$" sign in your response.) |
SHAY INC. Cash Receipts Budget For January, February, and March | |||
January | February | March | |
$ | $ | $ | |
Cash receipts from | |||
Total cash receipts | $ | $ | $ |
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