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What is the budgeted accounts receivable balance on May

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Reference no: EM132986623

Question - The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has been assembled:

Collections on sales:

50% in month of sale

40% in month following sale

10% in second month following sale

The accounts receivable balance on January 1 of the current year was $65,000, of which $47,000 represents uncollected December sales and $18,000 represents uncollected November sales.

Required - What is the budgeted accounts receivable balance on May 31?

Reference no: EM132986623

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