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Frank's sporting goods projects sales for the second quarter of 2020 to be as follows: April $250,000 May $300,000 June $380,000 All of Frank's sales
Frank's sporting goods projects sales for the second quarter of 2020 to be as follows:
April $250,000 May $300,000 June $380,000
All of Frank's sales are on credit, 45% of credit sales are collected one month following the sale and the rest are collected two months following the sale.
January sales were $150,000, February sales were $180,000, and March sales were $280,000.
Question: What would be the accounts receivable balance at the end of June?
A. $336,000
B. $209,000
C. $545,000
D. $455,000
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