Do not give solution in image format Besse SARI, had the following budgeted sales for the given monthsCash Sales Credit SalesJuly$52,000 $204,000August$53,000 $222.000September $31,000 $295,000October$52,000 $196,000$273,000November $58,000The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has beenassembledThe Accounts Receivable balance on July 1 was $96,000. Of this amount, $72,000 represented uncollected June sises and $24,000 represented uncollected May salesCollections on Credit sales:• 50% in month of sale• 25% in month following sale•25% in second month following salePart 1:Given these data, the total cash collected during July would be: SPart 2:What is the budgeted Accounts Receivable on November 17#

The account receivables represents the amount due from customers within one year. The account…

Besse SARL had the following budgeted sales for the given months: Cash Sales Credit Sales July $52,000 $204,000 August $53,000 $222,000 September $31,000 $295,000 October $52,000 $196,000 November $58,000 $273,000 The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has bee assembled The Accounts Receivable balance on July 1 was $96,000. Of this amount, $72,000 represented uncollected June sises and $24,000 represented uncollected May sales Collections on Credit sales: 50% in month of sale • 25% in month following sale 25% in second month following sale Part 1: Given these data, the total cash collected during July would be Part 2: Recenable on November 17

Besse SARL had the following budgeted sales for the given months: Cash Sales Credit Sales July $52,000 $204,000 August $53,000 $222,000 September $31,000 $295,000 October $52,000 $196,000 November $58,000 $273,000 The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has bee assembled The Accounts Receivable balance on July 1 was $96,000. Of this amount, $72,000 represented uncollected June sises and $24,000 represented uncollected May sales Collections on Credit sales: 50% in month of sale • 25% in month following sale 25% in second month following sale Part 1: Given these data, the total cash collected during July would be Part 2: Recenable on November 17

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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