In preparing a budgeted balance sheet, the amount for Accounts Receivable is primarily determined from:
A) The purchases budget.
B) The sales budget.
C) The capital expenditures budget.
D) The budgeted income statement.
E) The selling expenses budget.

Question

Quizplus · Accepted Answer

The amount for Accounts Receivable is primarily determined from the sales budget, as it represents the expected amount of revenue to be collected from customers on credit. The purchases budget, capital expenditures budget, budgeted income statement, and selling expenses budget are not directly related to calculating the amount for Accounts Receivable.

In Preparing a Budgeted Balance Sheet, the Amount for Accounts