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Answer the Following Question(s)using the Information Below

Question 110

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Answer the following question(s) using the information below.
Fiscal Company has the following sales budget for the last six months of 2013:
Answer the following question(s) using the information below. Fiscal Company has the following sales budget for the last six months of 2013: Historically,the cash collection of sales has been as follows: 65% of sales collected in the month of sale, 25% of sales collected in the month following the sale, 8% of sales collected in the second month following the sale,and 2% of sales are uncollectible. -What is the ending balance of accounts receivable for September,assuming uncollectible balances are written off during the second month following the sale? A) $99,500 B) $48,500 C) $44,900 D) $46,500 E) $54,500 Historically,the cash collection of sales has been as follows:
65% of sales collected in the month of sale,
25% of sales collected in the month following the sale,
8% of sales collected in the second month following the sale,and
2% of sales are uncollectible.
-What is the ending balance of accounts receivable for September,assuming uncollectible balances are written off during the second month following the sale?


A) $99,500
B) $48,500
C) $44,900
D) $46,500
E) $54,500

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