Conde Inc. has projected sales to be: February, $20,000; March, $18,000; April, $16,000; May, $20,000; and June,
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Conde Inc. has projected sales to be: February, $20,000; March, $18,000; April, $16,000; May, $20,000; and June, $22,000. Conde has 30% cash sales and 70% sales on account. Accounts are collected 40% in the month following the sale and 60% collected the second month. Accounts receivable for May 31 would be
a. $ 6,160.
b. $13,300.
c. $14,000.
d. $20,720.
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