Student's question on budgeted cash collections cannot be answered due to missing information on the collection schedule; relevant definitions of accounting profit and economic profit were provided instead.
The student's question pertains to preparing a budgeted cash collections schedule for the Avril Company. We are given sales expectations, but the question seems to lack the details of the collections schedule to precisely calculate the budgeted cash collections for March. Therefore, without additional information about the percentage of sales collected in the current month, the next month, and so on, we cannot accurately determine the answer.
However, we can discuss concepts such as accounting profit, which is calculated by subtracting explicit costs from total revenues. Similarly, economic profit is derived by taking the accounting profit and subtracting any implicit costs.