ACC 202 Week 3 Assignment Week Three Problems

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Problem 14-16

a.

Sales Budget

January

February

March

Total

Sales on account

200,000

220,000

242,000

662,000

b.Sales income for the quarter is equal to the sum of the monthly amounts (200,000 220,000 242,000 662,000).

c.

Schedule of Cash Receipts

January

February

March

Receipts from January sales

140,000

Receipts from January sales

40,000

Receipts from January sales

20,000

Receipts from February sales

154,000

Receipts from February sales

44,000

Receipts from March sales

169,400

Total

140,000

194,000

233,400

d.

Schedule of Cash Receipts

January

February

March

April

May

Receipts from January sales

140,000

Receipts from January sales

40,000

Receipts from January sales

20,000

Receipts from...

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