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Prepare vaughn cash receipts budget for the second quarter

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Reference no: EM131922089

Exercise - Vaughn/Neff, Ltd. personalizes scrapbooks for customers, using their digital photographs. Each scrapbook sells for $43. Vaughn/Neff collects cash at the time of sale from 36% of customers. Of the remaining sales, 66% are collected in the month of sale and 34% are collected in the month following the sale. The sales budget for the first six months of the year is as follows:

 

January

February

March

April

May

June

Budgeted sales

$139,400

$110,100

$112,000

$114,900

$112,700

$126,200

Prepare Vaughn/Neff's cash receipts budget for the second quarter.

Reference no: EM131922089

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