Prepare a sales budget for the year 2017 with a schedule of expected cash collections.

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Q: Determine the account receivable balances at March 31, 2022.

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Q: 4. Prepare a cash budget by quarter and in total for next year.

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Budgeted Income Statement

Accounting is the process of recording business-related financial transactions. The process of accounting involves summarizing and analyzing the transactions. The financial statements which are prepared in accounting contain a summary of the various transactions that took place within a certain accounting period. Book-keeping or accounting is one of the most important activities of any business.