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Cash Receipts from Sales Assignment | Top Universities

(cash receipts from sales)

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Budgeted sales revenue for the coming five months is as follows:

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Month Sales revenue
August $160,000
September $155,000
October $155,000
November $115,000
December $180,000

You estimate that you will collect 35% of sales revenue in the month of sale, 35% in the following month, 25% two months after the sale, and the remaining 5% three months after the sale.

Required:

Compute budgeted cash inflows for November and December.
November = $
December = $
(Hint: pay attention to the timing, e.g. “35% is collected in the following month” means 35% of August revenue is collected in September, i.e., cash receipts (inflows) for September include 35% of previous month’s sales revenue.) Get Accounting Homework Help Today

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