Green Company's sales are 20% cash and 80% credit. Of the creditsales, 60% are collected in the month of sale and 30% in the month followingthe sale. The balance is collected during the following month. Budgeted salesdata is as follows: June July August $300,000 $250,000 $280,000 September $310,000 How much is total Accounts Receivable at the end of August? (A) $224,400 B $137,000 $89,600 $109,600

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A: Given information is: Liza’s predicts sales of $40,000 for May and $52,000 for June. Assume 60% of…

Q: Parlee Company's sales are 30% in cash and 70% on credit. Sixty % of the credit sales are collected…

A: Cash sales for april = Total sales for april x 30% = 30000 x 30% = 9000

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A: Budgets are the estimates or forecasts that are made for future period of time. Gross margin in…

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A:

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A: Accounts receivable:   The amount of money to be received by the company for the sale of goods and…

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A: A cash budget is budget of expected cash receipts and disbursements during a period. It includes…

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A: Schedule of cash collectionFor the month of August Particulars Amount Cash sales for August…

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A: Formula: Cash sales value = Total sales x Cash sale Percentage Multiplying total sales with cash…

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A: Budgets are prepared by the management on the basis of past experience. Based on the budget, It is…

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A:

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A: Note: It is assumed that the requirement of the question is to compute the budgeted cash…

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A: Formula: Cash collected = Credit Sales amount x cash collection percentage.

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A: Budgeted cash collection is the expected cash is to be collected in a particular month for the…

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A: A budget is a forecast which is presented for assessment of the expected financial position of the…

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A: Cash collections refer to the amount of cash collected from the customers on sales and from the…

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A: Cash Collections:Cash collections: It refer to the amount of cash collected from the customers on…

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A: Working Note: Credit sales % = 100 - cash sales % = 100% - 20% = 80%

Q: Provide a supporting schedule of cash collections.

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A: 1. Cash collections - Cash Collection is the collection made from the sales budget estimated in the…

Q: Seventy percent of Parlee Corporation's sales are collected in the month of sale, 25% in the month…

A: Budgeting process can be defined as the process of predicting company's performance in the future…

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A: Cash Budget: Cash budget is a budget that is prepared to estimate the cash inflows and cash outflows…

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A: "Since you have asked multiple questions, we will solve first question for you. If you want any…

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A:

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A: Budgeted Sales is the forecast of How much revenue a company can earn in future.

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A: Sales budget is a financial plan about how the resources should be used to obtain forecasted sales.

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