Martinez Company reported the following information for 2019: October November December $312,000 $340,000 $386.000 $121,000 $129,000 $144,000 Budgeted sales Budgeted purchases . All sales are on credit. Customer amounts on account are collected 30% in the month of sale and 70% in the following month Compute Martinez's budgeted cash receipts for November. Budgeted cash receipts for November $
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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