Exercise 14 3a Static Preparing A Schedule Cash Receipts Lo 14 2 The Budget Director Of Heather S Florist Has Prepared 1 (90.86 KiB) Viewed 14 times
Exercise 14 3a Static Preparing A Schedule Cash Receipts Lo 14 2 The Budget Director Of Heather S Florist Has Prepared 2 (36.3 KiB) Viewed 14 times
Exercise 14-3A (Static) Preparing a schedule cash receipts LO 14-2 The budget director of Heather's Florist has prepared the following sales budget. The company had $50,000 in accounts receivable on July 1. Heather's Florist normally collects 100 percent of accounts receivable in the month following the month of sale. 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. Complete this question by entering your answers in the tabs below. Required A Required B Complete the schedule of cash receipts by filling in the missing amounts. July August September Sales Budget Cash sales $ 40,000 $ 42,500 $ 45,000 45,000 Sales on account 54.000 64,800 Total budgeted sales $ 85,000 $ 96,500 $ 109,800 Schedule of Cash Receipts Current cash sales Plus: Collections from accounts receivable Total budgeted collections $ 90,000 $ 87,500 $99.000
b. Determine the amount of accounts receivable the company will report on its third quarter pro forma balance sheet. Complete this question by entering your answers in the tabs below. Required A Required B Determine the amount of accounts receivable the company will report on its third quarter pro forma balance sheet. Accounts receivable < Required A Required B >
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