asper Company has 57% of its sales on credit and 43% for cash. All credit sales are collected in full in the first month following the ale. The company budgets sales of $523,000 for April, $533,000 for May, and $558,000 for June. Total sales for March are 308,300. Prepare a schedule of budgeted cash receipts for April, May, and June. Cash sales Sales on account Total sales Cash receipts from: Cash sales 43% 57% $ Collection of accounts receivable Total cash receipts April $ JASPER COMPANY Schedule of Cash Receipts April May May 0 $ June June 0
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.
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