The table below is Rebecca Minkoff's budgeted sales: April May June July August $452,000 $467,000 $ 498,000 $520,000 $507,000 Rebecca Minkoff estimates that sales are 30% in credit and the remainder in cash. Also, Rebecca Minkoff estimates that 50% of credit sales are collected in the month of sale, 35% of credit sales are collected in the month following the sale, and 6% of credit sales are collected in the second month following the sale. Three requirements: a. Compute the amount of cash that Rebecca Minkoff will collect in June. b. Compute the amount of cash that Rebecca Minkoff will collect in July. c. Compute the amount of cash that Rebecca Minkoff will collect in August. a. Compute the amount of cash that Rebecca Minkoff will collect in June (Do not round intermediate calculations.) Cash Receipts Submit

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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.