As a courtesy, the Stratton County Parks Department (the Department) bills school districts that use the parks. The table below is the operating budget for the Nature tours at the Stratton Valley Golf Course. Individuals pay for tours the day they go on them. School District 1 pays 50% of the amount billed the month after receiving the bill and pays the remainder two months after receiving the bill. School District 2 pays 50% the month it is billed, 50% one month after receiving a bill. Prepare a cash collections budget for the Nature Tour Operations for the month of June. Nature Tours Operating Budget April May June Families $145 $175 $ 200 School District 1 $170 $120 $185 School District 2 $125 $115 $175 Total Tour Revenue $ 440 $410 $560

As a courtesy, the Stratton County Parks Department (the Department) bills school districts that use the parks. The table below is the operating budget for the Nature tours at the Stratton Valley Golf Course. Individuals pay for tours the day they go on them. School District 1 pays 50% of the amount billed the month after receiving the bill and pays the remainder two months after receiving the bill. School District 2 pays 50% the month it is billed, 50% one month after receiving a bill. Prepare a cash collections budget for the Nature Tour Operations for the month of June. Nature Tours Operating Budget April May June Families $145 $175 $ 200 School District 1 $170 $120 $185 School District 2 $125 $115 $175 Total Tour Revenue $ 440 $410 $560

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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