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The Following Sales Budget Has Been Prepared: Collection of Credit

Question 33

Multiple Choice

The following sales budget has been prepared: The following sales budget has been prepared: Collection 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 of Accounts Receivable at October 31? A) $72,500 B) $110,000 C) $118,000 D) $180,000 Collection 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 of Accounts Receivable at October 31?


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

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