The Following Sales Budget Has Been Prepared: Collections of Credit

question 25

Multiple Choice

The following sales budget has been prepared: Collections of credit sales are 50% in the month of sale,40% in the month following sale,and 10% two months following sale.No uncollectible accounts are expected.What is the expected balance in Accounts Receivable at November 30?

• A)$77,500
• B)$105,000
• C)$123,000
• D)$210,000

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