The Kansas Company is preparing a cash budget for the month of July. The following information on accounts receivable collections is available from Kansas' past collection experience: Percent of current month's sales collected this month Percent of prior month's sales collected this month Percent of sales two months prior to current month collected this month Percent of sales three months prior to current month collected this month The remaining 4% are not collected and are written off as bad debts. Credit sales to date are as follows: July (estimated) June May April What are the estimated collections in July? Multiple Choice O O O $143,270 $130,750 $137,010 $ 156,000 $ 141,000 $ 126,000 $ 151,000 $139,100 15% 72% 6% 3%

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Q: What is accounting base on

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Q: accounting definition?

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Q: Explain Bill-and-hold concept.

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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.