Petal CoReported the Following Information for 2022 • All Sales Are on Credit

question 12

Multiple Choice

Petal Co.reported the following information for 2022: $$\text { Budgeted sales } \quad \frac { \text { October } } { \$ 930,000 } \quad \frac { \text { November } } { \$ 870,000 } \quad \frac { \text { December } } { \$ 1,080,000 }$$
• All sales are on credit.
• Customer amounts on account are collected 50% in the month of sale and 50% in the following month.

How much is the November 30 2022 budgeted Accounts Receivable?

• A)$900000
• B)$540000
• C)$465000
• D)$435000

---

Definitions:

Profit Maximizing Prices

Prices set by firms to maximize their profits, determined by the intersection of marginal cost and marginal revenue.

Marginal Revenue Function

A mathematical representation that shows how marginal revenue changes as the quantity of output is changed.

Dinner Special

A unique or discounted meal offered by a restaurant, typically for a limited time or occasion, often to attract customers or showcase new dishes.

Optimal Decision

The most efficient, profitable, or desirable decision given the available information, resources, and constraints.