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1. Taras Treasures is attempting to prepare her Sales Budget for 2024. In...

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Accounting

1. Taras Treasures is attempting to prepare her Sales Budget for 2024. In the 4th Quarter of 2023, Tara generated $55,000 in Sales Revenue. Tara expects her Sales Revenue will increase as follows in 2024:
Quarter 1: 15% higher than 4th Quarter of 2023
Quarter 2: 20% higher than Quarter 1
Quarter 3: 22% higher than Quarter 2
Quarter 4: 25% higher than Quarter 3
Required:
Prepare Taras Quarterly Sales Budget for 2024.
2. Taras Treasures is attempting to prepare her CASH FLOW budget for the 1st Quarter of 2024. Tara projected sales for the 1st Quarter are as follows:
January $45,000
February. $55,000
March $65,000
Tara generated Sales of $75,000 in December of 2023.
Taras generally collects 40% of her sales in Cash and 60% in Accounts Receivable each month. For her Accounts Receivable, she collects 50% in the month of sale and 50% in the month following the sale.
Required:
Prepare the Cash Receipts Journal for January-March 2024.

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