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Copper Corporation has the following sales budget for the last six months of 2019: Historically, the cash collection of sales has been as follows: 65
Copper Corporation has the following sales budget for the last six months of 2019:
Historically, the cash collection of sales has been as follows:
65 percent of sales collected in month of sale,
25 percent of sales collected in month following sale,
8 percent of sales collected in second month following sale, and
2 percent of sales is uncollectable.
What is the ending balance of accounts receivable at the end of September assuming uncollectible balance is written off in the third month after the sale?
$199,000 | |
$93,000 | |
$89,800 | |
$97,000 | |
$88,000 |
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