Use the following information to answer questions 1-3:

January February March April

Cash Sales $40,000 $35,000 $25,000 $30,000 Credit Sales $120,000 $110,000 $90,000 $100,000

20% of the credit sales are collected in the month of sale, 70% in the month after sale, and 10% in the second month after sale. What is the balance of accounts receivable on April 30?

Multiple Choice

• $80,000

• $89,000

• $30,000

• $189,000