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The budget director of Heathers Florist has prepared the following sales budget. The company had...

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Accounting

The budget director of Heathers Florist has prepared the following sales budget. The company had $50,000 in accounts receivable on July 1. Heathers Florist normally collects 100 percent of accounts receivable in the month following the month of sale.
Required
Complete the schedule of cash receipts by filling in the missing amounts.
Determine the amount of accounts receivable the company will report on its third quarter pro forma balance sheet.
Complete the schedule of cash receipts by filling in the missing amounts.
JulyAugustSeptemberSales BudgetCash sales$40,000$42,500$45,000Sales on account45,00054,00064,800Total budgeted sales$85,000$96,500$109,800Schedule of Cash ReceiptsCurrent cash salesPlus: Collections from accounts receivableTotal budgeted collections$90,000$87,500$99,000

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