Zimmer company reported the following information for 2011

Reference no: EM13606116

Zimmer Company reported the following information for 2011: October November December Budgeted sales $230,000 $220,000 $270,000 Budgeted purchases $120,000 $128,000 $144,000

• All sales are on credit.

• Customer amounts on account are collected 30% in the month of sale, 25% the next month, and 45% the third month.

• Cost of goods sold is 35% of sales.

• Zimmer purchases and pays for merchandise 60% in the month of acquisition and 40% in the following month.

• Accounts payable is used only for inventory acquisitions. How much is Zimmer's accounts receivable balance at December 31st.?

Reference no: EM13606116

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