A sendai clothing wholesaler was preparing its sales budget


A Sendai clothing wholesaler was preparing its sales budget for the first quarter of 20X8. Forecast sales are as follows (All values are in thousands of yen). January ¥203,000 February ¥227,000 March ¥248,000 Sales are 40% cash and 60% on credit. Fifty-five percent of the credit accounts are collected in the month of sale, 35% in the month following the sale, and 10% in the following month. No uncollectible accounts are anticipated. Accounts receivable at the beginning of 20X8 are ¥82,950 (10% of November credit sales of ¥150,000 and 45% of December credit sales of ¥151,000). Prepare a schedule showing sales and cash collections for January, February, and March, 20X8.

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Financial Accounting: A sendai clothing wholesaler was preparing its sales budget
Reference No:- TGS01607747

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