The following is the sales budget for Lemonis, Incorporated, for the first quarter of 2022: February $225,000 March $248,000 January $ 205,000 Sales budget Credit sales are collected as follows: 75 percent in the month of the sale. 20 percent in the month after the sale. 5 percent in the second month after the sale. The accounts receivable balance at the end of the previous quarter was $89,000 FF0000-firbt allected December calor!
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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