Each column below is independent and for a different company. Use the data given, which refers to one year for each example, to find the unknown account balances.
Definitions:
Sales Budget
A detailed schedule showing expected sales expressed in both dollars and units.
Credit Sales
Sales made on credit, where payment is received after the goods or services are delivered.
Cash Sales
Transactions where the purchase of goods or services is paid for with cash at the time of sale.
Sales Forecast
The process of estimating future sales, helping businesses make informed procurement, production, and marketing decisions.
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