July August September Budgeted sales $180,000 $220,000 $240,000 .... Cash sales are 25% of total sales and all credit sales are ex- pected to be collected in the month following the sale. The total amount of cash expected to be received from custom- ers in September is a. $240,000. c. $60,000. e. $220,000. b. $225,000. d. $165,000.
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.
A store has the following budgeted sales for the next three months.
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