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Use the following information to answer questions 1-3: January February March April Cash Sales $40,000...

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Accounting

Use the following information to answer questions 1-3: January February March April Cash Sales $40,000 $35,000 $25,000 $30,000 Credit Sales $120,000 $110,000 $90,000 $100,000 20% of the credit sales are collected in the month of sale, 70% in the month after sale, and 10% in the second month after sale. What is the balance of accounts receivable on April 30? Multiple Choice $80,000 $89,000 $30,000 $189,000

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