Question
The LaPann Company has obtained the following sales forecast data: July August September October Cash Sales $80,000 $70,000 $50,000 $60,000 Credit Sales $195,700 $222,600 $189,800
The LaPann Company has obtained the following sales forecast data:
| July | August | September | October | |
| Cash Sales | $80,000 | $70,000 | $50,000 | $60,000 |
| Credit Sales | $195,700 | $222,600 | $189,800 | $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. There are no bad debts.
What is the budgeted accounts receivable balance on September 30?
$174,100
$213,350
$151,840
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ESG And Financial Performance The Effects Of Audit Quality And National Culture In The Nigerian And Kenyan Context
Authors: Ursule Yvanna Otek Ntsama
1st Edition
3346838838, 978-3346838834
