Compton Company expects the following total sales: Month Sales March $ 21,000 April $ 11,000 May $ 33,000 June $ 16,000 The company expects 70%
Compton Company expects the following total sales:
| Month | Sales | ||
| March | $ | 21,000 | |
| April | $ | 11,000 | |
| May | $ | 33,000 | |
| June | $ | 16,000 | |
The company expects 70% of its sales to be credit sales and 30% for cash. Credit sales are collected as follows: 25% in the month of sale, 75% in the month following the sale. The budgeted accounts receivable balance on May 31 is:
Multiple Choice
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$15,925.
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$17,325.
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$24,750.
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$15,240.
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Authors: Michael Armstrong
1st Edition
1907766081, 978-1907766084
