Question

How much cash will be collected on december?

what is the accounts receivable?

Schedule 1 contains Hampton Freeze's sales budget for 2017. As you study this schedule, keep in mind that all of its numbers are derived from cell references to the Budgeting Assumptions tab and formulas-none of the numbers appearing in the schedule were actually keyed into their respective cells. Furthermore, it bears emphasizing that all remaining schedules in the master budget are prepared in the same fashion--they rely almost exclusively on cell references and formulas. SCHEDULE TBC Hampton Freeze, Inc. Sales Budget For the Year Ended December 31, 2017 Quarter 10 000 30.000 40000 $ 20.00 $ 20.00 $ 20.00 $200.000 $600,000 $800.000 7 Budgeted unit sales in cases) 8 Seling price per unit 9 Total sales 20.000 $ 20.00 $400,000 Year 100.000 $ 20.00 $2.000.000 30% $ 70% Schedule of Expected Cash Collections 13 Beginning accounts receivable! $. 90000 14 First quarter sales 140.000 60.000 15 Second quarter sales 420,000 $180,000 16 Third quarter sales 560,000 17 Fourth-quarter sales 18 Total cash collections $230,000 $480.000 $740.000 90,000 200.000 600.000 800,000 280,000 $240.000 280,000 $520,000 $1970.000 Go back

Answer 1

Answer is given below

Since you have mentioned December it is presumed December Quarter

Quarter IV collections Quarter IV Collection Quarter III Quarter IV Total $2,40,000 $2,80,000 $5,20,000 Answer Accounts Receivable at end of Quarter IV will be 30% of Quarter IV sales Quarter IV Sales Accounts Receivable $4,00,000 $1,20,000 Answer