2. The budget of Georgie\'s Corp. has prepared the following sales budget Georgi

Question

2. The budget of Georgie's Corp. has prepared the following sales budget Georgie's Corp. norm collects 100 percent of accounts receivable in the month following the month of sale. Also, expects to increase a 10 percent in cash sales and sales on account for February and a decreased of 5 percent for March. aly SALES JAN UARY FEBRUARY MARCH Sales Budget Cash Sales Sales on Account Total Budgeted Sales 75,000$82,500 120,000 $195.000 5125400 Schedule of Cash Receipts Current cash sales Plus collections from Acs Res Total Budgeted Collections $75,000 S0 S75,000

Explanation / Answer

Prepare budget :

Sales budget January February March Cash sales 75000 82500 78375 Sales on account 120000 132000 125400 Total budgeted sales 195000 214500 203775 Schedule of cash receipts Current cash sales 75000 82500 78375 Pluss collection from Acc Rec 0 120000 132000 Total budgeted collection 75000 202500 210375

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