Question
The company expects a 20 percent increase in sales per month for February and March. The ratio of cash sales to sales on account will
The company expects a 20 percent increase in sales per month for February and March. The ratio of cash sales to sales on account will remain stable from January through March.
| Sales | January | February | March |
| Cash sale | $100,000 | ||
| Sales on account | $200,000 | ||
| Total Budgeted sales | $300,000 |
a. Complete the sales budget by filling in the missing amounts.
b. Determine the amount of sales revenue that will be reported on the first quarter pro forma income statement.
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1 Sales January February March Cash Sale 100000 120000 144000 Sales on Account 200000 2400...
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Economics Today
Authors: Roger LeRoy Miller
16th edition
132554615, 978-0132554619
