If the accounts receivable is based on a collection period of 54.75 days, then the accounts receivable would amount to R180 000 if the credit sales are R 1200000 . Select one: True False When a proforma statement of comprehensive income of a company is prepared using the percentage-of-sales method, all the expenses and company tax are used to determine the percentages in relation to sales to apply to the statement for the next budgeted period. Select one: True False