Farley Company reported the following information for 2016: $$\begin{array} { l c c c c c }
& \text { September } & \text { October } & \text { November } & \text { December } & \text { January } \
\text { Budgeted sales } & \$ 240,000 & \$ 310,000 & \$ 290,000 & \$ 360,000 & \$ 200,000 \
\end{array}$$ All sales are on credit.
-Customer amounts on account are collected 50% in the month of sale and 50% in the following month.
How much is the November 30, 2016 budgeted Accounts Receivable?

Question

Farley Company reported the following information for 2016: $$\begin{array} { l c c c c c } 
& \text { September } & \text { October } & \text { November } & \text { December } & \text { January } \
\text { Budgeted sales } & \$ 240,000 & \$ 310,000 & \$ 290,000 & \$ 360,000 & \$ 200,000 \
\end{array}$$ All sales are on credit. 
-Customer amounts on account are collected 50% in the month of sale and 50% in the following month.
How much is the November 30, 2016 budgeted Accounts Receivable?

Quizplus · Accepted Answer

The Answer of Farley Company reported the following information for 2016: $$\begin{array} { l c c c c c } 
& \text { September } & \text { October } & \text { November } & \text { December } & \text { January } \
\text { Budgeted sales } & \$ 240,000 & \$ 310,000 & \$ 290,000 & \$ 360,000 & \$ 200,000 \
\end{array}$$ All sales are on credit. 
-Customer amounts on account are collected 50% in the month of sale and 50% in the following month.
How much is the November 30, 2016 budgeted Accounts Receivable?

Farley Company Reported the Following Information for 2016 All Sales Are on Credit