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Solve the budged accounts receivable balance august

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Reference no: EM132960360

ABC company has budgeted for the next 6 months

Budgeted sales

March. 400000

april. 360000

may. 390000

June. 420000

july. 379000

august. 418000

  • 10% of the company's sales are cash sales and 90% of the sales are made on account in average 11% of sales on account are collected in the month of sales
  • 34% is collected in the month following sale
  • 40% is collected the second month following the sale
  • and 5% is collected threee month after the month of sale

Problem 1: Calculate the budged accounts receivable balance august 31

Reference no: EM132960360

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