Multiple Choice
Richards Corporation has the following budgeted sales for the first half of next year: 
The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has been assembled: 
The accounts receivable balance on January 1 is $70,000. Of this amount, $60,000 represents uncollected December sales and $10,000 represents uncollected November sales. What is the budgeted accounts receivable balance on May 30?
A) $81,000
B) $68,000
C) $60,000
D) $141,000
Correct Answer:
Verified
Correct Answer:
Verified
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