Question 2. (cash receipts from sales) Budgeted sales revenue for the coming five months is as...
Question 2. (cash receipts from
sales)
Budgeted sales revenue for the coming five months is as
follows:
| Month | Sales revenue |
| August | $160,000 |
| September | $155,000 |
| October | $155,000 |
| November | $115,000 |
| December | $180,000 |
You estimate that you will collect 35% of sales revenue in the
month of sale, 35% in the following month, 25% two months after the
sale, and the remaining 5% three months after the sale.
Required:
Compute budgeted cash inflows for November and December.
November = $
December = $
(Hint: pay attention to the timing, e.g. "35% is collected in the
following month" means 35% of August revenue is collected in
September, i.e., cash receipts (inflows) for September include 35%
of previous month's sales revenue.)
Homework Answers
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Question 2. (cash receipts from
sales)
Budgeted sales revenue for the coming five months is as...
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