Husky Compony makes all purchases on account, subject to the following payment pattern Paid in the month of purchase: 50% Paid in the first month following purchase. 40% Paid in the second month following purchase: 10% If budgeted purchases for April, May, and June are $30,000, $45,000, and $20,000, respectively, what is the firm's budgeted accounts payable balance, on June 30? O $35,000 O $14,500 O None of these O $6,500 O $31,000
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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