ugay Industries, a defense contractor, is developing a cash budget for October, November,andDecember.Jungaya'ssalesinAugustandSeptemberwerePHP100,000 and PHP200,000 respectively. Sales of PHP400,000, PHP300,000, and PHP200,000 have been forecast for October, November, and Decemberrespectively. Historically, 20% of the fim's sales have been for cash, 50% have generated accounts receivable collected after 1 month, and the remaining 30% have generated accounts receivable collected after 2 months. In December, the firm will receive a PHP30,000 dividend from stock in a subsidiary. Required: Prepare the cash receipts sectionof the cashbudget.

ugay Industries, a defense contractor, is developing a cash budget for October, November,andDecember.Jungaya'ssalesinAugustandSeptemberwerePHP100,000 and PHP200,000 respectively. Sales of PHP400,000, PHP300,000, and PHP200,000 have been forecast for October, November, and Decemberrespectively. Historically, 20% of the fim's sales have been for cash, 50% have generated accounts receivable collected after 1 month, and the remaining 30% have generated accounts receivable collected after 2 months. In December, the firm will receive a PHP30,000 dividend from stock in a subsidiary. Required: Prepare the cash receipts sectionof the cashbudget.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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