The Following Sales Budget Has Been Prepared Collections Are 50% in the Month of Sale, 40% in l

The following sales budget has been prepared: $$\begin{array} { l l l } \text { Month } & \text { Cash Sales } & \text { Credit Sales } \\\text { Septemb er } & \$ 99,000 & \$ 250,000 \\\text { October } & 225,000 & 180,000 \\\text { November } & 310,000 & 210,000 \\\text { December } & 94,000 & 170,000\end{array}$$ Collections are 50% in the month of sale, 40% in the month following the sale, and 10% two months following the sale. No uncollectible accounts are anticipated. is the expected balance of Accounts Receivable as of November 30.

A) $123,000
B) $77,500
C) $210,000
D) None of these answers is correct.

Correct Answer:

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