Bright Minds Toy Company Prepared the Following Sales Budget for the Second

question 10

Multiple Choice

Bright Minds Toy Company prepared the following sales budget for the second quarter.Projected sales for each of the first three months of operations are as follows: $\begin{array}{lccc}\text {Sales Budget}& \text { April } & \text { May } & \text { June}\\\text {Cash Sales}&30,000 & 43,000&55,000 \\\text { Sales on Account}&370,0 & 432,000&405,000 \\&400,000&475,000&460,000\end{array}$
Bright Minds expects to collect 70% of the sales on account in the month of sale,20% in the month following the sale,and the remainder in the second month following the sale.
What is the ending accounts receivable balance that would be reported on the pro forma balance sheet prepared as of June 30?

• A) $164,700
• B) $121,500
• C) $283,500
• D) $86,400

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Behaviors or actions that are generally considered offensive, inappropriate, or not in line with societal norms and values.

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A deep and poignant emotional pain or distress caused by loss, especially of a loved one.

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