Accounts Receivable Collections Budget Example 1 Accounts Receivable Collections Budget $ December 15,000 Actual Sales: (excl GST) Expected Sales: January 13,000 (excl GST) February 10,000 March 8,000 All sales are made on credit and the expected pattern of receipts is: - 50% pay in the month of sale - 50% pay in the following month GST is accounted for on a cash basis. Required: Prepare an accounts receivable collections budget for January, February and March, showing GST collected separately.

Accounts Receivable Collections Budget Example 1 Accounts Receivable Collections Budget $ December 15,000 Actual Sales: (excl GST) Expected Sales: January 13,000 (excl GST) February 10,000 March 8,000 All sales are made on credit and the expected pattern of receipts is: - 50% pay in the month of sale - 50% pay in the following month GST is accounted for on a cash basis. Required: Prepare an accounts receivable collections budget for January, February and March, showing GST collected separately.

Name: LTE 11%4-22-1 - Nije spremljeno5Accounts Receivable Collections Budge
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Description: LTE 11%4-22-1 - Nije spremljeno5Accounts Receivable Collections BudgetExample 1Accounts Receivable Collections Budget$December15,000Actual Sales:(excl GST)January13,000Expected Sales:(excl GST)February10,000March8.000All sales are made on credit and

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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