Cash Receipts Budget
Thirst Quencher sells plastic water bottles to outdoorenthusiasts for $1.25 each. The company’s marketing managerprepared the following sales forecast (in units) for the first halfof the year:
Historically, the cash collection of sales has been as follows:55 percent of sales collected in month of sale, 35 percent of salescollected in month following sale, and 9 percent of sales collectedin second month following sale. The remaining 1 percent is nevercollected because customers do not pay.
Required:
For the following task, round the per unit answers to thenearest cent, if required.
Prepare a cash receipts budget for each month of the secondquarter (April, May, and June).
Thirst QuencherCash Receipts Budget
Month
Sales
April
May
June
February
$
$
March
$
$
$
April
$
$
$
$
May
$
$
$
June
$
$
Total cash receipts from sales
$
$
$
January February March May June Total 150,000 125,000 180,000 165,000 165,000 155,000 940,000 Show transcribed image text January February March May June Total 150,000 125,000 180,000 165,000 165,000 155,000 940,000
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