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The budget director of Heather's Florist has prepared the following sales budget. The company had $210,000 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 $ 83,000 77,000 $ 91,000 83,000 $ 112,000 195,000 $ 133,600 216,600 $ 168,000 $ 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 $ 287,000 $ 174,000 $ 195,000
The budget director of Heather's Florist has prepared the following sales budget. The company had $210,000 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 Determine the amount of accounts receivable the company will report on its third quarter pro forma balance sheet. Accounts receivable