The table below is Rebecca Minkoff's budgeted sales: April May June July August $458,000 $466,000 $496,000 $520,000 $505,000 ebecca Minkoff estimates that sales are 30% in credit and the remainder in cash. Also, Rebecca ales are collected in the month of sale, 35% of credit sales are collected in the month following th ollected in the second month following the sale. mree requirements: Compute the amount of cash that Rebecca Minkoff will collect in June
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.
Subject: acounting
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