Question

In preparing a budgeted balance sheet, the dollar amount of Accounts Receivable can be derived from: Multiple Choice The purchases budget and schedule of cash payments. The sales budget and the schedule of cash receipts. The capital expenditures budget and purchases budget. The budgeted income statement and budgeted balance sheet.

Answer 1

The sales budget and the schedule of cash receipts.

Option B.

Explanation:

Account receivable is the account which consists of the amount that is to be received by a firm for the goods and the services that have been delivered to the customers but the amount and the payment has not yet been received by the firm for the same.

The amount of money that is still to be received can be derived from the accounts having the sales that is done by the firm to the clients.