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Calculate the budgeted accounts receivable balance

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Reference no: EM131729975

Question - Crowe Company expects the following total sales:

Month Sales

March 30,000

April 20,000

May 30,000

June 25,000

The company expects 70% of its sales to be credit sales. Credit sales are collected as follows: 25% in the month of sale, 65% in the month following the sale with the remainder being uncollectible. The budgeted accounts receivable balance on May 30th is

a. $20,550

b. $22,500

c. $13,650

d. $14,350

Reference no: EM131729975

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