Question
Swifty/Neff, Ltd. personalizes scrapbooks for customers, using their digital photographs. Each scrapbook sells for $75. Swifty/Neff collects cash at the time of sale from 30%
Swifty/Neff, Ltd. personalizes scrapbooks for customers, using their digital photographs. Each scrapbook sells for $75. Swifty/Neff collects cash at the time of sale from 30% of customers. Of the remaining sales, 75% are collected in the month of sale and 25% are collected in the month following the sale. The sales budget for the first six months of the year is as follows: January February March April May June Budgeted sales $117,000 $107,000 $107,000 $109,000 $112,000 $122,000 Prepare Swifty/Neff's cash receipts budget for the second quarter. (Enter answers in necessary fields only. Leave other fields blank. Do not enter 0.) April May June Total Cash Receipts Cash sales $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount March sales enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount April sales enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount May sales enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount June sales enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount Totals $enter a total amount $enter a total amount $enter a total amount enter a total amount Calculate the accounts receivable balance at the end of second quarter. Accounts Receivable balance at the end of second quarter $enter the accounts receivable balance at the end of second quarter in dollars
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