Compton Company expects the following total sales: Month Sales ...
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Accounting
Compton Company expects the following total sales:
Month
Sales
March
$
39,000
April
$
29,000
May
$
23,000
June
$
34,000
The company expects 70% of its sales to be credit sales and 30% for cash. Credit sales are collected as follows: 25% in the month of sale, 75% in the month following the sale. The budgeted accounts receivable balance on May 31 is:
A. $10,675.
B. $12,075.
C. $31,700.
D. $17,250.
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