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Prepare the cash receipts section of a cash budget

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Reference no: EM132559645

Question - TED Corp wishes to prepare the cash budget for the month of March 2021 and has provided projected sales revenue data below:

Projected sales:

January 2021 $144,000

February 2021 $205,000

March 2021 $220,000

All sales are on credit with 65% collected during the month of sale, 30% collected during the month following the sale, and 5% during the second month after the sale.

Required -

1. Prepare the cash receipts section of a cash budget for TED Corp for the month of March 2019.

2. Discuss how the cash budgeting process will help TED Corp achieve its goals.

Reference no: EM132559645

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