Please give solution All sales of Paige Company are on account. Budgeted sales for the first quarter of 200B are: January P96,000 February 168,800 March 158,400 Based on the company’s collection experience, 60% of the sales is collected in the month after the sale, 36% is collected in the second month following the sale, and the balance is uncollectible. The budgeted cash receipts for March is a.P118,368 b.P158,304 c.P155,808 d.P135,840
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.
Please give solution
All sales of Paige Company are on account. Budgeted sales for the first quarter of 200B are:
January P96,000
February 168,800
March 158,400
Based on the company’s collection experience, 60% of the sales is collected in the month after the sale, 36% is collected in the second month following the sale, and the balance is uncollectible.
The budgeted cash receipts for March is
a.P118,368
b.P158,304
c.P155,808
d.P135,840
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