1. A company has a sales plan for 2020 based on the estimated end of the month as follows: Month Total sales July Rp 28.000,00 August 35.000,00 September 42.000,00 Payment terms are set: 3/20/net 30. Based on the experience of the customer's payment method as follows: 60% of sales every month is collected at 20 days after the month of pend. 30% accumulated in the time after 20 days in the same month, i.e. in the first month after the month of Dec. 10% collected in the second month after the month of Dec. Required: prepare a schedule/budget for collection of receivables (receivables collection budget)
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
![1. A company has a sales plan for 2020 based on the estimated end of the month
as follows:
Month
Total sales
July
Rp 28.000,00
August
35.000,00
September
42.000,00
Payment terms are set: 3/20/net 30.
Based on the experience of the customer's payment method as follows:
60% of sales every month is collected at 20 days after the month of pend.
30% accumulated in the time after 20 days in the same month, i.e. in the first month after
the month of Dec.
10% collected in the second month after the month of Dec.
Required: prepare a schedule/budget for collection of receivables (receivables collection
budget)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F982a49e0-124d-4a58-b45a-36a43e615ff7%2F7da15260-34fb-40ee-a54f-d36871fa3402%2Ftpssqxk_processed.jpeg&w=3840&q=75)
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