Flathead Artifacts (a retailer) has the following sales budget for next year. Flathead has a gross margin of 40%. Flathead sells everything on credit. Accounts are expected to be collected as follows: 35% in the quarter of the sales; 55% in the quarter following the sale; 10% in the second quarter following the sale.

	Quarter 1	Quarter 2	Quarter 3	Quarter 4
Sales Revenue	$100,000	$120,000	$90,000	$80,000

A. What is budgeted cost of goods sold for Quarter 3?

B. What is accounts receivable on the balance sheet at the end of Quarter 4?

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