Please provide solution. Ty Gargalicana Company is preparing its cash budget for next year. Budgeted sales for four months are as follows: April P80,000 May 160,000 June 240,000 July 80,000 Fifty percent of total sales is cash sales. The balance, or the credit sales, is collected in the following manner: 70% in the month following the sale 20% in the second month following the sale 10% in the third month following the sale How much is the budgeted cash receipts in July? a.P144,000 b.P104,000 c.P288,000 d.P208,000
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.
Please provide solution. Ty
Gargalicana Company is preparing its
April P80,000
May 160,000
June 240,000
July 80,000
Fifty percent of total sales is cash sales. The balance, or the credit sales, is collected in the following manner:
70% in the month following the sale
20% in the second month following the sale
10% in the third month following the sale
How much is the budgeted cash receipts in July?
a.P144,000
b.P104,000
c.P288,000
d.P208,000
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
