CE Company reported the following information for 2022: Budgeted sales $1225000 $1310000 All sales are on credit. • Accounts receivable are collected 50% in the month of sale and 50% in the following month. What are budgeted cash receipts for November? $560000 October November December $1120000 $1330000 $1120000 $1500000
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
![CE Company reported the following information for 2022:
Budgeted sales
$1225000
. All sales are on credit.
• Accounts receivable are collected 50% in the month of sale and 50% in the following
month.
What are budgeted cash receipts for November?
$1310000
October November December
$560000
$1120000
$1330000 $1120000 $1500000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F86ca274f-9ad3-4b9c-9476-6acd50f2d7ea%2F506a8d01-e710-40b8-b31c-35df3d6dea31%2Fo6llb2_processed.jpeg&w=3840&q=75)
![Which of the following statements is true?
A well-developed budget can operate and enforce itself
In participative Budgeting, each level of management should be invited to participate
A budget can be a means of communicating a company's objectives to external parties
The longer the budget period, the more reliable the estimates of future outcomes](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F86ca274f-9ad3-4b9c-9476-6acd50f2d7ea%2F506a8d01-e710-40b8-b31c-35df3d6dea31%2Fuvb0xbh_processed.jpeg&w=3840&q=75)
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