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What would the budgeted accounts receivable be

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Reference no: EM133147001

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 25% in the month of sale, 60% 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: EM133147001

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