Harrti Corporation Has Budgeted for the Following Sales: Sales

Multiple Choice

Harrti Corporation has budgeted for the following sales: Sales are collected as follows: 10% in the month of sale; 60% in the month following the sale; and the remaining 30% in the second month following the sale. In Razz's budgeted balance sheet at December 31, at what amount will accounts receivable be shown?

A) $680,000
B) $612,000
C) $826,500
D) $214,500