The budget director of Heathers Florist has prepared the following sales budget. The company had $ 121,600 in accounts receivable on July 1. Heathers Florist normally collects 100 percent of accounts receivable in the month following the month of sale.Required Complete the schedule of cash receipts by filling in the missing amounts.Determine the amount of accounts receivable the company will report on its third quarter pro forma balance sheet.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question
The budget director of Heathers Florist has prepared the following sales budget. The company had $
121,600 in accounts receivable on July 1. Heathers Florist normally collects 100 percent of accounts
receivable in the month following the month of sale.Required Complete the schedule of cash receipts by
filling in the missing amounts.Determine the amount of accounts receivable the company will report on its
third quarter pro forma balance sheet.
Transcribed Image Text:The budget director of Heathers Florist has prepared the following sales budget. The company had $ 121,600 in accounts receivable on July 1. Heathers Florist normally collects 100 percent of accounts receivable in the month following the month of sale.Required Complete the schedule of cash receipts by filling in the missing amounts.Determine the amount of accounts receivable the company will report on its third quarter pro forma balance sheet.
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education