A Scndai clothing wholesaler was preparing its sales budget for the first quarter of 20X8. Forecast sales arc as follows (All values arc in thousands of yen).January ¥203.(XX) February ¥227,000 March_ ¥248,(MM)Sales arc 40% cash and 60% on credit. Fifty-five percent of the credit accounts are collected in the month of sale, 35% in the month following the sale, and 10% in the following month. No uncollectible accounts arc anticipated. Accounts receivable at the beginning of 20X8 arc ¥82,950 (10% of November credit salesof ¥150,000 and45% of Decembercredit sales of ¥ 151,000). Prepare aschedule showing sales and cash collections for January. February,and March,20X8. 7-31 Sales BudgetA Sendai clothing wholesaler was preparing its sales budget for the first quarter of 20X8. Forecastsales are as follows (All values are in thousands of yen).January¥203,(KX)FebruaryV227,(KK)MarchV248,(KX)Sales are 40% cash and 60% on credit. Fifty-five percent of the credit accounts are collectedin the month of sale, 35% in the month following the sale, and 10% in the following month. Nouncollectible accounts are anticipated. Accounts receivable at the beginning of 20X8 are V82,950(10% of November credit sales of V150,000 and 45% of December credit sales of V151,000).Prepare a schedule showing sales and cash collections for January, February, and March, 20X8,

Given, forecast sales for JAN, FEB, MAR as 203,000 227,000 248,000 respectively. Sales are 40%, 60%,…

Answered: 7-31 Sales Budget A Sendai clothing…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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A Scndai clothing wholesaler was preparing its sales budget for the first quarter of 20X8. Forecast sales arc as follows (All values arc in thousands of yen).
January ¥203.(XX) February ¥227,000 March_ ¥248,(MM)

Sales arc 40% cash and 60% on credit. Fifty-five percent of the credit accounts are collected in the month of sale, 35% in the month following the sale, and 10% in the following month. No uncollectible accounts arc anticipated. Accounts receivable at the beginning of 20X8 arc ¥82,950 (10% of November credit salesof ¥150,000 and45% of Decembercredit sales of ¥ 151,000). Prepare aschedule showing sales and cash collections for January. February,and March,20X8.

7-31 Sales Budget
A Sendai clothing wholesaler was preparing its sales budget for the first quarter of 20X8. Forecast
sales are as follows (All values are in thousands of yen).
January
¥203,(KX)
February
V227,(KK)
March
V248,(KX)
Sales are 40% cash and 60% on credit. Fifty-five percent of the credit accounts are collected
in the month of sale, 35% in the month following the sale, and 10% in the following month. No
uncollectible accounts are anticipated. Accounts receivable at the beginning of 20X8 are V82,950
(10% of November credit sales of V150,000 and 45% of December credit sales of V151,000).
Prepare a schedule showing sales and cash collections for January, February, and March, 20X8,

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