(Answered) Exercise - vaughnneff ltd personalizes scrapbooks for

Accounting

Exercise - Vaughn/Neff, Ltd. personalizes scrapbooks for customers, using their digital photographs. Each scrapbook sells for $43. Vaughn/Neff collects cash at the time of sale from 36% of customers. Of the remaining sales, 66% are collected in the month of sale and 34% are collected in the month following the sale. The sales budget for the first six months of the year is as follows:

	January	February	March	April	May	June
Budgeted sales	$139,400	$110,100	$112,000	$114,900	$112,700	$126,200

Prepare Vaughn/Neff's cash receipts budget for the second quarter.

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