Budgeted Sales for the Second Quarter of the Year for Reuben

question 8

Essay

Budgeted sales for the second quarter of the year for Reuben Company are as follows: $\begin{array}{lc} & \text { Budgeted Sales } \\\text { April } & £ 400,000 \\\text { May } & 200,000 \\\text { June } & 600,000\end{array}$ The company normally collects 60 per cent in the month of sale and 30 per cent in the month following the sale. Ten per cent of all sales are uncollectible and are written off in the following month.
The balance in accounts receivable at April 1 was £200,000, which represents 40 per cent of March sales.

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