Richards Company had the following budgeted sales for the first half of 2007 How much is the budgeted accounts receivable balance on April 30, 2007 Collections on sales 60 in month of sale 30 in month following sale 10 in second month following sale Sales $80,000 January February 60,000 March 50,00...

18000 5000 23000 Since customers pay 60 of the amount due in the mo ...

Richards Company had the following budgeted sales for the first half of 2007: How much is the

Question:

Richards Company had the following budgeted sales for the first half of 2007:

Collections on sales: 60% in month of sale 30% in month following sale 10% in second month following sale Sales $80,000

How much is the budgeted accounts receivable balance on April 30, 2007?

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...