TaylorMade Golf is preparing its cash budget for Q1 2024. Cash sales are collected in the month of sale. For sales on account, 55% is expected to be collected in the month of sale, and 45% is expected to be collected in the first month following the sales. The following chart shows TaylorMade’s budgeted sales information for Q1. Month Sales January $5,300,000 February $5,475,000 March $5,600,000 Assume 80% of sales are on account and the other 20% are cash sales. What is the budgeted amount for cash collections from customers (cash and on account) in February? (Round to the nearest whole dollar amount. Do not round intermediate steps.
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.
Oo.97.
Subject :- Account
TaylorMade Golf is preparing its
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