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Create monthly cash collection budget for raptors rugs

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Reference no: EM132524069

Raptors Rugs has forecasted sales for the following period.

Sales

May$10,800

June$14,400

July$9,000

August$12,600

September$15,300

October$16,200

Revenue was $12,000 in March and $14,000 in April.

  • 20% of sales are cash, the rest are on account. 24% of sales on account are collected in the month of sale. 38% of sales on account are collected in the next month and 30% two months after the month of sale. 8% of sales on account have historically have been uncollectible.

Question 1: Create monthly cash collection budget for Raptors Rugs from May through October Determine what would be the accounts receivable at the end of October

Reference no: EM132524069

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