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Debora [2.8K]
2 years ago
9

The regular pattern of collection of credit sales is 30% 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 bad debts. The budgeted accounts receivable balance on May 31 would be:
Business
1 answer:
scZoUnD [109]2 years ago
3 0

Answer:

$242,000

Explanation:

Calculation for what The budgeted accounts receivable balance on May 31 would be

Accounts Receivable

Debit side

April 320,000

May 300,000

Total $620,000

Credit side

April 96,000 (30% x 320,000)

April 192,000 (60% x 320,000)

May 90,000 (30% x 300,000)

Total=$378,000

The budgeted accounts receivable balance=$620,000-$378,000

The budgeted accounts receivable balance=$242,000

Therefore The budgeted accounts receivable balance on May 31 would be $242,000

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1 year ago
All of the following are true about time series methods EXCEPT a. they discover a pattern in historical data and project it into
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Answer:

B. they involve the use of expert judgement do develop forecasts

Explanation:

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A man earns Rs.450 in a month and spends 85% of his income.what does he save?
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