Business, 14.12.2019 07:31 emanuelmorales1515

Cash receipts the sales budget for andrew inc. is forecasted as follows: month sales revenue may $ 170,000 june 210,000 july 230,000 august 170,000 to prepare a cash budget, the company must determine the budgeted cash collections from sales. historically, the following trend has been established regarding cash collection of sales: 50 percent in the month of sale. 25 percent in the month following sale. 20 percent in the second month following sale. 5 percent uncollectible. the company gives a 2 percent cash discount for payments made by customers during the month of sale. the accounts receivable balance on april 30 is $34,000, of which $10,000 represents uncollected march sales and $24,000 represents uncollected april sales.

prepare a schedule of budgeted cash collections from sales for may, june, and july. include a three-month summary of estimated cash collections.

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Cash receipts the sales budget for andrew inc. is forecasted as follows: month sales revenue may $...