Margaret Moore Bramble Joseph Fabricators Accounts Receivable Manager Has Just Received The Company S Sales Budget 1 (31.86 KiB) Viewed 105 times
Margaret Moore Bramble Joseph Fabricators Accounts Receivable Manager Has Just Received The Company S Sales Budget 2 (19 KiB) Viewed 105 times
Margaret Moore Bramble Joseph Fabricators Accounts Receivable Manager Has Just Received The Company S Sales Budget 3 (16.92 KiB) Viewed 105 times
Margaret Moore Bramble Joseph Fabricators Accounts Receivable Manager Has Just Received The Company S Sales Budget 4 (12.25 KiB) Viewed 105 times
Margaret Moore, Bramble & Joseph Fabricators' accounts receivable manager, has just received the company's sales budget for the first quarter. January March Budgeted revenue February $675,000 $600,000 Quarter $2,100,000 $825.000 The company makes all sales on credit. Margaret recently reviewed the company's collection history and found that 72% of the sales are collected in the month of the sale, 26% of sales are collected in the month following the sale, and 2% of sales are uncollectible. The company expects to have a net accounts receivable balance of $98,200 on January 1, and this amount represents the remaining receivables from December's sales. Prepare Bramble & Joseph's cash receipts budget for the first quarter. (Enter answers in necessary fields only. Leave other fields blank. Do not enter 0.)
January February March Total December credit sales $ $ $ $ $ January sales February sales March sales Totals $ $ $
gary March Total Cash Receipts Uncollectible $ I $ $ $ $
Determine the Net Accounts Receivable at the end of the quarter. Assume that there are no outstanding accounts receivable and allowance for doubtful accounts balances at the beginning of December for the prior year. Net Accounts Receivable $
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