QS 20-19 Cash receipts LO P2 Music World reports the following sales forecast: August, $110,000, and September, $240,000. Cash sales are normally 40% of total sales and all credit sales are expected to be collected in the month following the date of sale. Prepare a schedule of cash receipts for September MUSIC WORLD Cash Receipts Budget For Month Ended September 30 September cash sales S Collection of accounts receivable Total budgeted cash receipts $ 96.000 96,000

QS 20-19 Cash receipts LO P2 Music World reports the following sales forecast: August, $110,000, and September, $240,000. Cash sales are normally 40% of total sales and all credit sales are expected to be collected in the month following the date of sale. Prepare a schedule of cash receipts for September MUSIC WORLD Cash Receipts Budget For Month Ended September 30 September cash sales S Collection of accounts receivable Total budgeted cash receipts $ 96.000 96,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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