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Barlin Company collects its revenue from sales according to the following pattern: $ Cash sales (% of Total Sales paid for in cash) 10% Credit
Barlin Company collects its revenue from sales according to the following pattern:
$ | |
Cash sales (% of Total Sales paid for in cash) | 10% |
Credit sales (% of Total Sales on credit): | 90% |
% of credit sales collected during the month of sale | 30% |
% of credit sales collected during the month following the month of sale | 50% |
% of credit sales collected during the second month following the month of sale | 15% |
If Sales Revenue was budgeted to be $30,000 in July, $50,000 in August and $40,000 in September, calculate the Accounts Receivable balance at the end of the third quarter.
Do not use dollar signs or commas in your answer.
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