The following sales budget has been prepared: Collections 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 in Accounts Receivable at December 31?
A)$95,000
B)$116,000
C)$190,000
D)$210,000

Question

The following sales budget has been prepared:  Collections 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 in Accounts Receivable at December 31?
A)$95,000 
B)$116,000 
C)$190,000 
D)$210,000

Quizplus · Accepted Answer

The Answer of The following sales budget has been prepared:  Collections 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 in Accounts Receivable at December 31?
A)$95,000 
B)$116,000 
C)$190,000 
D)$210,000

The Following Sales Budget Has Been Prepared: Collections of Credit