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Category > Accounting Posted 23 Apr 2017 My Price 5.00

Preparing a schedule of cash receipts

Preparing a schedule of cash receipts

The budget director of Camila’s Florist has prepared the following sales budget. The company had $200,000 in accounts receivable on July 1. Camila’s Florist normally collects 100 percent of accounts receivable in the month following the month of sale.

Sales

July

August

September

Sales Budget

      

Cash sales

60,000

$72,000

$86,400

Sales on account

$90,000

108,000

129,600

Total budgeted sales

$150,000

$180,000

$216,000

Schedule of Cash Receipts

      

Current cash sales

?

?

?

Plus collections from accounts receivable

?

?

?

Total budgeted collections

$270,000

$162,000

$194,400

Required

 

a. Complete the schedule of cash receipts by filling in the missing amounts.

 

b. Determine the amount of accounts receivable the company will report on its third quarter pro forma balance sheet.

Answers

Alpha Geek
(8)
Status NEW Posted 23 Apr 2017 12:04 PM My Price 5.00

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Attachments

file 1492949555-666909_1_636283913769239559_Cash-collections-schedule.xlsx preview (131 words )
66-----------690-----------9&a-----------mp;-----------amp-----------;in-----------foI-----------d=4-----------207-----------95P-----------rep-----------ari-----------ng -----------a s-----------che-----------dul-----------e o-----------f c-----------ash----------- re-----------cei-----------pts-----------The----------- bu-----------dge-----------t d-----------ire-----------cto-----------r o-----------f C-----------ami-----------laâ-----------€™s----------- Fl-----------ori-----------st -----------has----------- pr-----------epa-----------red----------- th-----------e f-----------oll-----------owi-----------ng -----------sal-----------es -----------bud-----------get-----------. T-----------he -----------com-----------pan-----------y h-----------ad -----------$20-----------0,0-----------00 -----------in -----------acc-----------oun-----------ts -----------rec-----------eiv-----------abl-----------e o-----------n J-----------uly----------- 1.----------- .A-----------cco-----------unt-----------s R-----------ece-----------iva-----------ble-----------s o-----------n J-----------uly----------- 1$-----------Cam-----------ila-----------’-----------s F-----------lor-----------ist----------- no-----------rma-----------lly----------- co-----------lle-----------cts----------- 10-----------0 p-----------erc-----------ent----------- of----------- ac-----------cou-----------nts----------- re-----------cei-----------vab-----------le -----------in -----------the----------- mo-----------nth----------- fo-----------llo-----------win-----------g t-----------he -----------mon-----------th -----------of -----------sal-----------eSa-----------les-----------Jul-----------yAu-----------gus-----------tSe-----------pte-----------mbe-----------rSa-----------les----------- Bu-----------dge-----------tCa-----------sh -----------sal-----------esS-----------ale-----------s o-----------n a-----------cco-----------unt-----------Tot-----------al -----------bud-----------get-----------ed -----------sal-----------esS-----------che-----------dul-----------e
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