Use the following information for questions
Livanos, Inc.reports all its sales on credit, and pays operating costs in the month incurred.Amounts for 2012 are:

-Customer amounts on account are collected 70% in the month of sale and 30% in the following month.
-Cost of goods sold is 60% of sales.
-Livanos purchases and pays for merchandise 40% in the month of acquisition and 60% in the following month.
-Operating expenses are: Salaries, $50,000; Depreciation, $12,000; Rent, $15,000; and Utilities, $14,000;
-Accounts payable is used only for inventory acquisitions.
-How much is Livanos' May 30, 2012 budgeted Accounts Receivable?

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Use the following information for questions 
Livanos, Inc.reports all its sales on credit, and pays operating costs in the month incurred.Amounts for 2012 are:
  
-Customer amounts on account are collected 70% in the month of sale and 30% in the following month.
-Cost of goods sold is 60% of sales.
-Livanos purchases and pays for merchandise 40% in the month of acquisition and 60% in the following month.
-Operating expenses are: Salaries, $50,000; Depreciation, $12,000; Rent, $15,000; and Utilities, $14,000;
-Accounts payable is used only for inventory acquisitions.
-How much is Livanos' May 30, 2012 budgeted Accounts Receivable?

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The Answer of Use the following information for questions 
Livanos, Inc.reports all its sales on credit, and pays operating costs in the month incurred.Amounts for 2012 are:
  
-Customer amounts on account are collected 70% in the month of sale and 30% in the following month.
-Cost of goods sold is 60% of sales.
-Livanos purchases and pays for merchandise 40% in the month of acquisition and 60% in the following month.
-Operating expenses are: Salaries, $50,000; Depreciation, $12,000; Rent, $15,000; and Utilities, $14,000;
-Accounts payable is used only for inventory acquisitions.
-How much is Livanos' May 30, 2012 budgeted Accounts Receivable?

Use the Following Information for Questions