Sonia Sdn Bhd makes all of its purchases on credit; 50% are paid in the month of purchase, 30% during the month following the purchase and 20% in the second month following the purchase. The budgeted purchases are as follow: January RM10,000, February RM12,000, March RM8,000. The budgeted balance of creditors at the end of March is?
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.
Sonia Sdn Bhd makes all of its purchases on credit; 50% are paid in the month of purchase, 30% during the month following the purchase and 20% in the second month following the purchase. The budgeted purchases are as follow: January RM10,000, February RM12,000, March RM8,000. The budgeted balance of creditors at the end of March is?
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