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Calculate the budgeted cash receipts for the whole year

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Question - CWB Inc. has the following information: All budgeted cash collections will come from sales revenue.  To calculate the budgeted cash collections, we will assume that 20% of CWB's revenue is from cash sales. The other 80% is from sales on credit, which is collected as follows:

60% of credit sales collected in the Quarter of sale.

40% of credit sales collected in the Quarter following the sale.                    

Quarter 1: Cash collected from last year's Quarter 4 credit sales assumed to be $100,000.

 

Q1

Q2

Q3

Q4

Budgeted Sales Revenue ($)

400000

400000

400000

200000

Required -

1. Calculate cash collected in Quarter 2 for credit sales made during Quarter 1.

2. Calculate the budgeted cash receipts for the whole year.

Reference no: EM133184551

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