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Calculate abc companys budgeted accounts receivable

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Problem - Shown below are the budgeted sales for ABC Company for the next six months:

                   Sales for Cash     Sales on Account

January               $18,000             $ 70,000

February             $19,000             $ 90,000

March                 $24,000             $130,000

April                   $15,000             $100,000

May                   $26,000             $120,000

June                  $14,000             $ 95,000

On average, 40% of the sales on account are collected in the month of sale, 30% are collected in the month following sale, 10% are collected in the second month following sale, and the remaining 20% is collected three months after the month of sale.

Calculate ABC Company's budgeted accounts receivable at June 30. Do not use decimals in your answer.

Reference no: EM131643239

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