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Harrti Corporation has budgeted for the following sales: July $ 446,200 August $ 581,200 September $ 615,600 October $ 890,600 November $ 736,000 December $
Harrti Corporation has budgeted for the following sales:
July | $ | 446,200 |
August | $ | 581,200 |
September | $ | 615,600 |
October | $ | 890,600 |
November | $ | 736,000 |
December | $ | 696,000 |
Sales are collected as follows: 10% in the month of sale; 60% in the month following the sale; and the remaining 30% in the second month following the sale. In Harrti's budgeted balance sheet at December 31, at what amount will accounts receivable be shown?
$626,400
$847,200
$220,800
$696,000
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