The budget director of Natalia\'s Florist has prepared the following sales budge

Question

The budget director of Natalia's Florist has prepared the following sales budget. The company had $330,000 in accounts receivable on July 1. Natalia's Florist normally collects 100 percent of accounts receivable in the month following the month of sale. Required a. te the schedule of cash receipts by filing in the missing amounts gust Se Sales Budget Cash sales Sales on account Total budgeted sales Schedule of Cash Receipts Current cash sales Plus: Collections from accounts receivable Total budgeted collections $ 78,000 67,000 76,000 82,000 100,000122,600 $160,000$167,000 $198,600 $ 408,000 $149,000 $176,000 b. Determine the amount of accounts receivable the company will report on its third quarter pro forma balance sheet Accounts receivable 0 Type here to search

Explanation / Answer

Prepare schedule of cash receipts :

Total budgeted cash collection

2) Account receivable will report in third quarter in pro forma balance sheet is $122600

July August September Cash sales 78000 67000 76000 Sales on account 82000 100000 122600 Total budgeted sales 160000 167000 198600 Schedule of cash receipts Cash sales 78000 67000 76000 Plus : Collection from account receivable 330000 82000 100000

Total budgeted cash collection

408000 149000 176000

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.