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Nour Corporation has budgeted for the following sales: July $ 447,400 August $ 582,400 September $ 616,200 October $ 891,200 November $ 742,000 December $
Nour Corporation has budgeted for the following sales:
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July | $ | 447,400 |
August | $ | 582,400 |
September | $ | 616,200 |
October | $ | 891,200 |
November | $ | 742,000 |
December | $ | 702,000 |
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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.
Required: Calculate the amounts of accounts receivable In Nour's budgeted balance sheet at December 31.
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