Sunland Inc. reports all its sales on credit and pays operating costs in the month incurred. Amounts for 2020 are:

	March	April	May	June	July
Budgeted sales	$300500	$289900	$320200	$280600	$209400
Budgeted purchases	$143900	$119500	$128800	$132400	$89600

•	Customer amounts on account are collected 80% in the month of sale and 20% in the following month.
•	The cost of goods sold is 70% of sales.
•	Sunland purchases and pays for merchandise 30% in the month of acquisition and 70% in the following month.
•	Operating expenses are: Salaries, $50400; Depreciation, $11100; Rent, $15700; and Utilities, $13100.
•	Accounts payable is used only for inventory acquisitions.

How much is Sunland’s May 31, 2020, budgeted Accounts Receivable?

$320200

$64040

$256160

$314140

2)

Oriole Manufacturing Company has furnished the following information which occurred during May:

Accounts Payable balance at April 30	$ 28900
Purchases on account during May	150800
Cash payments for materials purchased in April	83000
Cash payments for materials purchased in May	75600

The accounts payable account is used only for direct materials. How much will Oriole report as accounts payable on the balance sheet at the end of May?

$21100

$104100

$7800

$13700

3)

A company's past experience indicates that 80% of its credit sales are collected in the month of sale and 19% in the next month. The remainder is never collected. The company’s budgeted credit sales totaled:

January	$99700
February	89000
March	109800

How much is expected cash receipts for February?

$104750

$88110

$92062

$90143