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The budget director of Natalia's Florist has prepared the following sales budget. The company had $100,000 in Accounts Receivable on July 1. Natalia's Florist normally
The budget director of Natalia's Florist has prepared the following sales budget. The company had $100,000 in Accounts Receivable on July 1. Natalia's Florist normally collects 100% of accounts receivable in the month following the month of sale. July August September Cash Sales $80,000 $85,000 $90,000 Sales on Account 90,000 108,000 129,600 Total Budgeted Sales $170,000 $193,000 $219,000 How much of July's sales will be collected in cash during July? Do not enter dollar signs or commas in your answers. How much of June's sales will be collected in cash during July? What are the Total Budgeted Collections for July? What are the Total Budgeted Collections for August? Determine the amount of A/R the company will report on its third quarter pro forma Balance Sheet
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