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Saratoga Corporation budgeted sales on acount of $120,000 for July, $211,000 for August, and $198,000 for September. Collection experience indicates that 10% of sales will
Saratoga Corporation budgeted sales on acount of $120,000 for July, $211,000 for August, and $198,000 for September. Collection experience indicates that 10% of sales will be collected in the month of the sale, 50% will be collected the month after the sale and 40% in the second month. The accounts receivable balance on September 30 would be: $262,600 $178,200 O$173,300 $282,400
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