An extract from a company's sales budget is as follows：$October 224,000November 390,000December 402,00010% of sales are paid for immediately in cash. Of the credit customers, 30% pay in the month following the sale and are entitled to a 1% discount. The remaining customers pay twomonths after the sale is made.What is the value of sales receipts shown in the company's cash budget for December?
A: $285,567
B: $286,620
C: $290,430
D: $312,830
A: $285,567
B: $286,620
C: $290,430
D: $312,830
举一反三
- Downstairs Company has the following sales budget for the last six months of 2010: July $100,000 August 80,000 September 110,000 October 80,000 November 100,000 December 94,000 Historically, the cash collection of sales has been as follows: 65% of sales collected in month of sale 25% of sales collected in month following sale 8% of sales collected in second month following sale 2% of sales uncollectible What are the expected cash collections of sales in October?
- Cash collections from customers include thecurrent month’s cash sales plus collections on credit sales.
- Which of the following would not go in a cash budget? A: Receipts from sales B: Opening cash balance C: Payments to creditors D: Depreciation E: Expenses paid
- The Singletary Corporation had a beginning cash balance of $7,050 during the month of March. This company is expected to collect $4,500 from its outstanding accounts receivable. The projected cash sales for March are $9,000. The outstanding accounts payable balance is $10,000, of which 30% is to be paid during March. Operating expenses that are to be paid during March are projected to be $12,000. If preparing a cash budget for the month of March, what is the ending cash balance?
- Which one of the following is not a functional budget? A: Marketing budget B: Sales budget C: Cash budget D: Purchasing budget