Winslow Inc.determined it had sold products during the month but not collected all of the amounts owed.Where will this amount owed be reflected in the master budget for the month?

Question

Quizplus · Accepted Answer

The amount owed by customers will be reflected as accounts receivable on the budgeted balance sheet in the assets section. This is because accounts receivable represent the amount owed to the company by its customers for products sold but not yet collected.