The Gardner Company expects sales for October of $238,000. Experience suggests that 45% of sales...
60.1K
Verified Solution
Link Copied!
Question
Accounting
The Gardner Company expects sales for October of $238,000. 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 $62,000. What is the amount of Accounted Receivables on the October 31 budgeted balance sheet? (Round your intermediate calculations to two decimal places.) A. 107100. B. 119000. C. 62000. D. 65450. E. 130900.
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
