Music World reports the following budgeted sales: August, $120,000; and September, $220,000. Cash sales are 50% of total sales, and all credit sales are collected in the month following the sale. Prepare a schedule of cash receipts from sales for September. MUSIC WORLD Schedule of Cash Receipts from Sales Sales Cash receipts from: Accounts payable Sales Total cash receipts September $ 220,000 $ 0
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
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![QS 20-19 (Algo) Schedule of cash receipts LO P2
Music World reports the following budgeted sales: August, $120,000; and September, $220,000. Cash sales are 50% of total sales,
and all credit sales are collected in the month following the sale. Prepare a schedule of cash receipts from sales for September.
MUSIC WORLD
Schedule of Cash Receipts from Sales
Sales
Cash receipts from:
Accounts payable
Sales
Total cash receipts
September
$ 220,000
$
0](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fda8a0e3e-d840-4aeb-9b53-59550b6bfa99%2Ff9cd6fc9-e728-489f-a725-4830830f79f6%2Fhzx4uvo_processed.jpeg&w=3840&q=75)
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