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Oriole, Inc. reports all its sales on credit, and pays operating costs in the month incurred. Amounts for 2022 are: - Customer amounts on account
Oriole, Inc. reports all its sales on credit, and pays operating costs in the month incurred. Amounts for 2022 are: - Customer amounts on account are collected 75% in the month of sale and 25% in the following month. - Cost of goods sold is 65% of sales. - Oriole purchases and pays for merchandise 35% in the month of acquisition and 65% in the following month. - Operating expenses are: Salaries, \$50500; Depreciation, \$11400; Rent, \$14300; and Utilities, \$14400. - Accounts payable is used only for inventory acquisitions. How much is Oriole's May 31, 2022 budgeted Accounts Receivable? $240375$313100$320500$80125
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