Hi-Value Products Company Is Creating an Operating Budget for the 3^rd

Essay

Hi-value Products Company is creating an operating budget for the 3^rd quarter and will begin with a sales budget. Budgeted sales are $100,000 in July, $120,000 in August, and $160,000 in September. 75% of sales are cash and 25% of sales are on account. Please use the following format and prepare a sales budget.
$\begin{array}{|l|l|l|l|}\hline \text { Sales Budget } & \text { Jul } & \text { Aug } & \text { Sep } \\\hline \text { Cash sales: } 75 \% & & & \\\hline \text { Credit sales: } 25 \% & & & \\\hline \text { Total sales } & & & \\\hline\end{array}$