Richards Corporation has the following budgeted sales for the first half of next year:

The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has been assembled:

The accounts receivable balance on January 1 is $70,000. Of this amount, $60,000 represents uncollected December sales and $10,000 represents uncollected November sales.
-The total cash collected during January would be:

Question

Richards Corporation has the following budgeted sales for the first half of next year:

The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has been assembled:

The accounts receivable balance on January 1 is $70,000. Of this amount, $60,000 represents uncollected December sales and $10,000 represents uncollected November sales.
-The total cash collected during January would be:

Quizplus · Accepted Answer

The total revenue for January is $345,000 (given in the table). This is also the total cash collected during January since it is assumed that all sales are made for cash.

Richards Corporation Has the Following Budgeted Sales for the First