Barlin Company collects its revenue from sales according to the following pattern:

$Cash sales (% of Total Sales paid for in cash)10%

Credit sales (% of Total Sales on credit):90%

% of credit sales collected during the month of sale30%

% of credit sales collected during the month following the month of sale50%

% of credit sales collected during the second month following the month of sale15%

If Sales Revenue was budgeted to be $30,000 in July, $50,000 in August and $35,000 in September, calculate the Accounts Receivable balance at the end of the third quarter.

Do not use dollar signs or commas in your answer.

Answer rating: 100% (QA)

To calculate the Accounts Receivable balance at the end of the third quarter we need to determine th... View the full answer