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QUESTION 17 6 points Saved The Fischer Company has obtained the following sales forecast data: July August September October Credit sales ......... $240,000 ..........$220,000 .........$180,000
QUESTION 17 6 points Saved The Fischer Company has obtained the following sales forecast data: July August September October Credit sales ......... $240,000 ..........$220,000 .........$180,000 ..........$200,000 The regular pattern of collection of credit sales is 20% in the month of sale, 70% in the month following the month of sale, and the remainder in the second month following the month of sale. The credit sales for May and June were $235,000 and $245,000 respectively. The budgeted accounts receivable balance on September 30 is O a. $144,000. O b. $192,000. O c. $206,000. O d. $214,000. O e. $166,000
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