Bt.2. Cautious Company has the following sales projection (in units) for the next six months:Feb: 11000Mar: 12500Apr: 10000May: 13500Jun: 11500Jul: 9000Each unit sells for $26 through April and $29 starting in May.Cautious has prepared the following sales budget for the quarter of April, May and June:Sales BudgetAprilSales in unitsSelling price per unit x $26Sales revenue10000$260000May1350011500x $29x $29$391500 $333500 $985000JuneTotal35000All of the sales are on credit. Cautious collects from customers as follows:50% of sales in the month of sale25% in the month following the sale, and25% in the second month following the salePrepare a cash receipts budget on paper or in Excel for the quarter of April, May and June.What is budgeted cash receipts in June?

Cash receipts budget is the statement which is prepared by the entity to report the cash expected to…

Cautious Company has the following sales projection (in units) for the next six months: Feb: 11000 Mar: 12500 Apr: 10000 May: 13500 Jun: 11500 Jul: 9000 Each unit sells for $26 through April and $29 starting in May. Cautious has prepared the following sales budget for the quarter of April, May and June: Sales Budget April Sales in units 10000 Selling price per unit x $26 Sales revenue Total 35000 11500 May June 13500 x $29 x $29 $260000 $391500 $333500 $985000 All of the sales are on credit. Cautious collects from customers as follows: 50% of sales in the month of sale 25% in the month following the sale, and 25% in the second month following the sale Prepare a cash receipts budget on paper or in Excel for the quarter of April, May and June. What is budgeted cash receipts in June?

Cautious Company has the following sales projection (in units) for the next six months: Feb: 11000 Mar: 12500 Apr: 10000 May: 13500 Jun: 11500 Jul: 9000 Each unit sells for $26 through April and $29 starting in May. Cautious has prepared the following sales budget for the quarter of April, May and June: Sales Budget April Sales in units 10000 Selling price per unit x $26 Sales revenue Total 35000 11500 May June 13500 x $29 x $29 $260000 $391500 $333500 $985000 All of the sales are on credit. Cautious collects from customers as follows: 50% of sales in the month of sale 25% in the month following the sale, and 25% in the second month following the sale Prepare a cash receipts budget on paper or in Excel for the quarter of April, May and June. What is budgeted cash receipts in June?

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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