Emerald Service anticipates the following sales revenue over a five-month period: (Click the icon to view the sales data) The company's sales are 20% cash and 80% credit Its collection history indicates that credit sales are collected as follows: (Click the icon to view the collections data) How much cash will be collected in January? in February? in March? For the quarter in total? Complete the cash budget to determine how much cash will be collected in January February March and for the quarter in total (Round your answers to the nearest whole dollar)
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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Emerald Service anticipates the following sales revenue over a five-month period:
EEE (Click the icon to view the sales data)
The company's sales are 20% cash and 80% credit
Complete the cash budget to determine how much cash will be collected in January, February, March and for the quarter in total. (Round your answers to the nearest whole dollar)
Emerald Service
Cash Collections Budget
For the Months of January through March
January
February
Cash sales
Collection of credit sales
20% Month of sale
40% Month after
25% Two months after
Total cash collections
Data table
Sales revenues
S
3,060
Print
2,464
3,200
3,220
11,964
2560
November December January February
16,100 $10,000 $ 15.400 $ 13,000 $
Done
2048
4,928
2,000
11536
March
Its collection history indicates that credit sales are collected as follows:
(Click the icon to view the collections data.)
How much cash will be collected in January? In February? in March? For the quarter
in total?
14,400
More info
20% in the month of the sale
40% in the month after the sale
25% two months after the sale
15% are never collected
Print
Done
Clear all
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