Shown below are budgeted sales for Betty DeRose, Inc.: Budgeted Sales in Units J

Question

Shown below are budgeted sales for Betty DeRose, Inc.: Budgeted Sales in Units January 6,900 units February 4,200 units March 5,500 units April 7,300 units May 6,100 units All sales are made on account. The selling price is $20 per unit. The sales are collected in the pattern 25% in the month of sale, 35% in the month after sale, 30% in the second month following sale, and the final 10% is collected in the third month following sale. Calculate Betty's budgeted accounts receivable at May 31. Do not use decimals in your answer.

Explanation / Answer

March sales 11000 =5500*20*10% April sales 58400 =7300*20*40% May sales 91500 =6100*20*75% Budgeted accounts receivable at May 31 160900

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