Homework Answers
1) Sales budget
| January | February | March | |
| Sales revenue | 120000 | 120000*1.05 = 126000 | 126000*1.05 = 132300 |
2) Total sales revenue = $378300
3) Schedule of cash receipt
| Schedule of cash receipt | January | February | march |
| Receipt from January Sales | 84000 | 24000 | 12000 |
| Receipt from February Sales | 88200 | 25200 | |
| Receipt from March Sales | 92610 | ||
| Total | 84000 | 112200 | 129810 |
4) Account receivable = (126000*10%+132300*30%) = $52290
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Benson Pointers Corporation expects to begin operations on January 1, year 1; it will operate as a specialty sales company that sells laser pointers over the Internet. Benson expects sales in January year 1 to total $260,000 and to increase 15 percent per month in February and March. All sales are on account. Benson expects to collect 69 percent of accounts receivable in the month of sale, 22 percent in the month following the sale, and 9 percent in the...
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