29) John Company has the following sales budget:

Month Cash Sales Credit Sales

September $100,000 $200,000

October 125,000 180,000

November 130,000 210,000

December 135,000 190,000

Collections of credit sales are 50% in the month of sale, 40% in the month following sale, and 10% two months following sale. No uncollectible accounts are expected. What is the expected balance in Accounts Receivable at December 31?

A) $95,000

B) $116,000 this is the right answer. Please explain.

C) $190,000

D) $210,000