Question: TB MC Qu . 0 7 - 1 2 5 ( Algo ) Gardner Company expects... Gardner Company expects sales for October of $ 2

TB MC Qu.07-125(Algo) Gardner Company expects...
Gardner Company expects sales for October of $254,000. Experience suggests that 45% of sales are for cash and 55% 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 $70,000. What is the amount of Accounts Receivable on the October 31 budgeted balance sheet?

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