The Kafusi Company has the following budgeted sales: April May June July Credit Sales 320,000 300,000 350,000
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Question:
The Kafusi Company has the following budgeted sales:
| April | May | June | July | |
|---|---|---|---|---|
| Credit Sales | 320,000 | 300,000 | 350,000 | 400,000 |
| Cash Sales | 70,000 | 80,000 | 90,000 | 70,000 |
The regular pattern of collection of credit sales is 30% in the month of sale, 60% 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 May 31st?
Expert Answer:
To calculate the budgeted accounts receivable balance on May 31st we need to consid... View the full answer
Related Book For 
Entrepreneurial Finance
ISBN: 978-0538478151
4th edition
Authors: J . chris leach, Ronald w. melicher
Posted Date:
