Figure 8-6 The records of Morgantown, Inc.show the following forecasted sales:
Collection pattern:
60 percent in month of sale
40 percent in month following the sale
The company has a selling price of $10 per unit and expects to maintain ending inventories equal to 20 percent of next month's sales.
Refer to Figure 8-6. How much is Accounts Receivable as of October 31?

Question

Figure 8-6 The records of Morgantown, Inc.show the following forecasted sales:
 Collection pattern:
60 percent in month of sale
40 percent in month following the sale
 The company has a selling price of $10 per unit and expects to maintain ending inventories equal to 20 percent of next month's sales.
Refer to Figure 8-6. How much is Accounts Receivable as of October 31?

Quizplus · Accepted Answer

The Answer of Figure 8-6 The records of Morgantown, Inc.show the following forecasted sales:
 Collection pattern:
60 percent in month of sale
40 percent in month following the sale
 The company has a selling price of $10 per unit and expects to maintain ending inventories equal to 20 percent of next month's sales.
Refer to Figure 8-6. How much is Accounts Receivable as of October 31?

Figure 8-6 the Records of Morgantown, Inc