Schedule of Cash Receipts Assignment | Top Universities
Preparing a schedule of cash receipts LO 7-2 17 The budget director of Heather's Florist has prepared the following sales budget. The company had $340,000 in accounts receivable on July 1. Heather's Florist normally collects 100 percent of accounts receivable in the month following the month of sale. 10 points Required (8 02:16:44 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 $ 72,000 $ 79,000 81,000 108,000 $ 153,000 $ 187,000 $ 74,000 132,600 $ 206,600 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 $ 412,000 $ 160,000 $ 182,000 Required A Required B > 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. Get Accounting homework help today