The Following Sales Budget Has Been Prepared Collections Are 50% in the Month of Sale, 40% in r

question 144

Multiple Choice

The following sales budget has been prepared: $$\begin{array} { l r r } \text { Month } & \text { Cash Sales } & \text { Credit Sales } \\\hline \text { September } & \$ 100,000 & \$ 200,000 \\\text { October } & 125,000 & 180,000 \\\text { November } & 207,000 & 199,000 \\\text { December } & 67,000 & 144,000\end{array}$$ Collections are 50% in the month of sale, 40% in the month following the sale, and 10% two months following the sale.No uncollectible accounts are anticipated._____ is the expected balance of Accounts Receivable as of October 31.

• A)$110,000
• B)$180,000
• C)$118,000
• D)$72,500

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