15739660053043729859161353801041.jpg - 2-2 Practice Exercises eBook Show Me How Calculator Cash Budget Daybook Inc collects 30 of its sales on account

15739660053043729859161353801041.jpg - 2-2 Practice...

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Unformatted text preview: 2-2 Practice Exercises eBook Show Me How Calculator Cash Budget Daybook Inc. collects 30% of its sales on account in the month of the sale and 70% in the month following the sale. If sales on account are budgeted to be $105,000 for September and $116,000 for October, what are the budgeted cash receipts from sales on account for October? 108,300 Feedback Check My Work The primary source of estimated cash receipts is from cash sales and collections on account. To estimate cash receipts from cash sales and collections on account, a schedule of collections from sales is prepared. Next...
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