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What is the ending balance of accounts receivable

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Question - Fiscal Company has the following sales budget for the last six months of 20X5:

July - $100,000

October - $90,000

August - $80,000

November - $100,000

September - $110,000

December - $94,000

Historically, the cash collection of sales has been as follows:

65% of sales collected in the month of sale,

25% of sales collected in the month following the sale,

8% of sales collected in the second month following the sale, and

2% of sales are uncollectible.

What is the ending balance of accounts receivable for September, assuming uncollectible balances are written off during the second month following the sale?

Reference no: EM131570457

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