Solution-What would the budgeted accounts receivable be

What would the budgeted accounts receivable be

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Reference no: EM133131748

Question - A company has the following budgeted sales for the months of April 2022 to July 2022:

	April	May	June	July
Credit Sales (£)	420,000	360,000	520,000	440,000
Cash Sales (£)	600,000	520,000	650,000	610,000

The regular pattern of collection of credit sales is 30% in the month of sale, 40% in the month following the month of sale, and the remainder in the second month following the month of sale. There are no irrecoverable receivables. What would the budgeted accounts receivable be by close of business on 31st May 2022?

Reference no: EM133131748

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What would the budgeted accounts receivable be

Reference no: EM133131748

Reference no: EM133131748

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