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The 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 Accounted Receivables on the October 31 budgeted balance sheet? $111,600. $124,000. $67,000. $68,200. $136,400.

Respuesta :

TomShelby

Answer:

$68,200

Explanation:

expected sales      248,000

45% cash

45% of 248,000 =   (111,600)

credit sales

55% of 248,00

136,400

50% current month

136,400 x 0.50 =    (68,200)

Ending Receivable  68,200

The beginning receivable are expected to be collected during october (base on the data are 50% of credit sales for september wich are collected entirely on next month)

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