Can someone help me with best effort? Answer correctly and completely for all with all working. Answer in text not image. Thanks! In the coming year, Crane, Inc. will be introducing its first product, a wrist brace that protects serious video gamers from repetitive-motion injuries. The brace will be sold for $10.00 to retailers throughout the country. All sales will be made on account. An expected65% of sales will be collected within the quarter of the sale, and another 30% in the quarter following the sale. The remaining 5% ofcredit sales are expected to be uncollectible. The sales budget for the coming year is as follows:Budgeted sales units2nd Quarter$1st Quarter$20,000Sales Budget2nd QuarterPrepare Crane, Inc.'s cash receipts budget for the coming year. (Enter answers in necessary fields only. Leave other fields blank. Do not enterO. Round "Budgeted sale price" and "Cash Receipts Budgets" answers to 2 decimal places, e.g. 52.75 and all other answers to O decimal places,e.g. 5,275.)$40,0003rd Quarter$3rd Quarter50,0004th Quarter4th Quarter$$70,000Annual$$ Budgeted units soldBudgeted sales priceBudgeted sales revenue1st quarter sales2nd quarter sales3rd quarter sales4th quarter sales2nd Quarter$$2nd Quarter$1st Quarter$$$1st QuarterSales Budget3rd Quarter$Net Accounts Receivable $$Cash Receipts Budget3rd Quarter$$2nd Quarter$2nd QuarterSDetermine the Net Accounts Receivable at the end of the year.4th Quarter$$Sales Budget$4th Quarter3rd QuarterCash Receipts Budget3rd Quarter$1000Annual$$Bad Debts$4th Quar4th Quarter

Lets understand the basics.Management prepares budget in order to estimate future profit and loss…

year, Crane, Inc. will be introducing its first product, a wrist brace that protects serious video gar es. The brace will be sold for $10.00 to retailers throughout the country. All sales will be made on will be collected within the quarter of the sale, and another 30% in the quarter following the sale. e expected to be uncollectible. The sales budget for the coming year is as follows: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter

year, Crane, Inc. will be introducing its first product, a wrist brace that protects serious video gar es. The brace will be sold for $10.00 to retailers throughout the country. All sales will be made on will be collected within the quarter of the sale, and another 30% in the quarter following the sale. e expected to be uncollectible. The sales budget for the coming year is as follows: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter

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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