The LaPann Corporation Has Obtained the Following Sales Forecast Data

question 83

Multiple Choice

The LaPann Corporation has obtained the following sales forecast data: The regular pattern of collection of credit sales is 20% in the month of sale, 70% in the month following the month of sale, and the remainder in the second month following the month of sale. There are no bad debts.The budgeted accounts receivable balance on September 30 would be:

• A) $126,000
• B) $148,000
• C) $166,000
• D) $190,000

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Definitions:

Historical Data

Information and records about past events, used for reference and analysis to understand patterns, trends, and outcomes in various fields.

Death Certificate

A permanent record of an individual’s death.

SIDS

Sudden Infant Death Syndrome, an unexplained death, usually during sleep, of a seemingly healthy baby less than a year old.

World Health Organization

A specialized agency of the United Nations responsible for international public health, often abbreviated as WHO.