Morgan Manufacturing has budgeted for the following sales: 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 Morgan's budgeted balance sheet at December 31, at what amount will accounts receivable be shown?

Select one:

a. $680,000

b. $612,000

c. $826,500

d. $214,500

Morgan Manufacturing has budgeted for the following sales: 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 Morgan's budgeted balance sheet at December 31, at what amount will accounts receivable be shown? Select one: a. $680,000 b. $612,000 c. $826,500 d. $214,500