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Gardner Company expects sales for October of $248,000. Experience suggests that 45% of sales are...

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Accounting

Gardner Company expects sales for October of $248,000. Experience suggests that 45% of sales are for cash and 55% are on credit. The company collects 50% of its credit sales in the month of sale and 50% in the month following sale. Budgeted Accounts Receivable on September 30 is $67,000. What is the amount of Accounts Receivable on the October 31 budgeted balance sheet?

Multiple Choice $111,600. $124,000. $67,000. $68,200. $136,400.

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