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Question - Bramble, Inc. reports all its sales on credit, and pays operating costs in the month incurred. Amounts for 2022 are:
March
April
May
June
July
Budgeted sales
$300000
$289600
$320100
$280200
$210100
Budgeted purchases
$144700
$120200
$128900
$132400
$89100
Customer amounts on account are collected 65% in the month of sale and 35% in the following month.
Cost of goods sold is 70% of sales.
Bramble purchases and pays for merchandise 30% in the month of acquisition and 70% in the following month.
Operating expenses are: Salaries, $50100; Depreciation, $12500; Rent, $14000; and Utilities, $13500.
Accounts payable is used only for inventory acquisitions.
Required - How much is Bramble's May 31, 2022 budgeted Accounts Receivable?
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