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Amount of accounted receivables

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The Gardner Company expects sales for October of $248,000. 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 $67,000. What is the amount of Accounted Receivables on the October 31 budgeted balance sheet?

  • $67,000.
  • $124,000.
  • $111,600.
  • $68,200.
  • $136,400.

Reference no: EM131073940

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