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Marthaler's Suits is lookine, for assistance with preparing a sales and cash receipts budget for...

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Accounting

Marthaler's Suits is lookine, for assistance with preparing a sales and cash receipts budget for the upcoming year. Dan, the owner provides you with the following information:
The average suit sells for $275.500 suits were sold in September. Expected sales: 600 in October, 800 in November, and 700 in December.
Cash sales are expected to be 10% and the rest to be on credit. Of the credit sales. 80% are expected to be callected in the month of sale and the rest in the month following the sale.
Cash payments are expected to be paid all on credit. 75% are expected to be paid in the month of purchase and the rest in the month following the purchase.
Create a sales budget for Marthaler's Suits for Q4.
\table[[Sales Budget,,],[,October,November,December],[Quantity,600,800,700],[Price,275,275,],[Total Sales,165000,275000,]]
Create the cash receipts budget for Marthaler's Suits for Q4.
\table[[Cash Receipts Budget],[October,November,December]]
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