The following sales budget has been prepared: Collection of credit sales are 50% in the month of sale,40% in the month following sale,and 10% two months following sale.No uncollectible accounts are expected.What is the expected balance of Accounts Receivable at October 31?
A)$72,500
B)$110,000
C)$118,000
D)$180,000

Question

The following sales budget has been prepared:  Collection of credit sales are 50% in the month of sale,40% in the month following sale,and 10% two months following sale.No uncollectible accounts are expected.What is the expected balance of Accounts Receivable at October 31?
A)$72,500 
B)$110,000 
C)$118,000 
D)$180,000

Quizplus · Accepted Answer

The Answer of The following sales budget has been prepared:  Collection of credit sales are 50% in the month of sale,40% in the month following sale,and 10% two months following sale.No uncollectible accounts are expected.What is the expected balance of Accounts Receivable at October 31?
A)$72,500 
B)$110,000 
C)$118,000 
D)$180,000

The Following Sales Budget Has Been Prepared: Collection of Credit