A company's budgeted sales and cash collections for Quarter 1 are listed below: January February March Cash Sales $93,000 $100,000 $85,000 Credit Sales Collections on credit sales are as follows: Month of sale A month after sale Second month after sale www. Answer (Click to select) $260,000 $195,000 Total Sales $360,000 $280,000 50% 40% 10% The accounts receivable balance on January 1 is $175,000, of which $75,000 represents uncollected December sales and $100,000 represents uncollected November sales astur stundarle je 25 Q. If the total cash collected in March was $320,000, then total January sales must have been:
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.
![A company's budgeted sales and cash collections for Quarter 1 are listed below:
January
February
March
Cash Sales
$93,000
$100,000
$85,000
Collections on credit sales are as follows:
Month of sale
A month after sale
Second month after sale
$1,278,000
$335,000
$428,000
$126,500
Credit Sales
Answer. (Click to select)
www.m
(Click to select)
None of the answers are correct.
?
$260,000
$195,000
v
Total Sales
The accounts receivable balance on January 1 is $175,000, of which $75,000 represents uncollected December sales and $100,000
represents uncollected November sales astur um al
Q. If the total cash collected in March was $320,000, then total January sales must have been:
$360,000
$280,000
50%
40%
10%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F49998b2f-dfc5-4ac0-8a68-76d26faacbac%2Fad9a1e45-deec-470e-9a7a-5cef257cee7d%2Fvmbrr7f_processed.png&w=3840&q=75)
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