In preparing a budgeted balance sheet,the amount for Accounts Receivable data can be derived from:
A)The purchases budget and schedule of cash payments.
B)The sales budget and the schedule of cash receipts.
C)The capital expenditures budget and purchases budget.
D)The budgeted income statement and budgeted balance sheet.
E)The selling expenses budget and the schedule of cash receipts.

Question

Quizplus · Accepted Answer

Accounts Receivable are derived from the sales budget and the schedule of cash receipts because it shows the estimated amount of credit sales and the anticipated timing of collecting those sales.

In Preparing a Budgeted Balance Sheet,the Amount for Accounts Receivable