Bison Inc. Budget Exercise

$3$:$00$ Class Only $($Section $13612)$

Bison Inc. sells Sporting Goods. The following is the trial balance for Bison Inc. as of $9/30/2025.$

$\backslash$table$[[,1,,2],[$Cash$,,91,545,],[$Accounts receivable,,$80,000,,],[$Inventory$,,42,000,,],[$Store equipment,,$250,000,,],[$Accumulated depreciation,,,$$,60,000],[$Accounts payable,,,,$35,000],[$Salaries payable,,,,$29,000],[$Utilities payable,,,,$2,300],[$Common stock,,,,$148,000],[$Retained earnings,,,,$189,245],[$Total$,,463,545,$$$,463,545]]$

Budgeted sales for October total $$150,000,$ consisting of $$60,000$ cash and $$90,000$ on credit.

The company expects sales to increase by $2\%$ each month.

The mix of cash $v.$ credit sales is not expected to change from month to month.

HALF of the credit sales are collected in the following month. The remaining sales are collected $2$ months later.

$$40,000$ of the AR at $\frac{9}{30}$ was collected in October, the remaining amount was collected in November.

Prepare a sales budget and schedule of cash receipts for October, November, and December.

$\backslash$table$[[$Sales Budget:,October,November,December$],[$Cash Sales,,,$],[$Credit Sales,,,$],[$Total$,,,]],$

$\backslash$table$[[$Cash Receipts,October,November,December,,Total$],[$Cash Sales,$ $60,000,,,,],[$Credit Sales,$40,000,,,,],[$Total$,,,,$$$,399,524]]$

What is total revenue for the fourth quarter $($Q$4)?$

What is the accounts receivable balance at $\frac{12}{31}\frac{?}{2025}?$