Gardner Company expects sales for October of $255,000. Experience suggests that 40% of sales are for cash and 60% are on credit. The company collects 50% of its credit sales in the month of sale and 50% in the month following sale. Budgeted Accounts Receivable on September 30 is $70,500. 

What is the amount of Accounts Receivable on the October 31 budgeted balance sheet?

Answer rating: 100% (QA)

To calculate the amount of Accounts Receivable on the October 31 budgeted balance sheet we need to c... View the full answer