its sales for cash and 70% of its sales on credit. All credit sales are fully collected in the first month after the sale. Budgeted sales are $60,200 for January, $84,200 for February, and $108,200 for March. December sales were $50,200. Prepare a schedule of cash receipts from sales for January, February, and March. ash receipts from: Cash sales Collections of prior period sales otal cash receipts 60,200 $ 84,200 $ March 108,200
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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