Use the following information for questions
Livanos, Inc.reports all its sales on credit, and pays operating costs in the month incurred.Amounts for 2020 are:

-Customer amounts on account are collected 70% in the month of sale and 30% in the following month.
-Cost of goods sold is 60% of sales.
-Livanos purchases and pays for merchandise 40% in the month of acquisition and 60% in the following month.
-Operating expenses are: Salaries, $50,000; Depreciation, $12,000; Rent, $15,000; and Utilities, $14,000.
-Accounts payable is used only for inventory acquisitions.
-How much is Livanos' May 31, 2020 budgeted Accounts Receivable?
A)$320,000
B)$96,000
C)$224,000
D)$311,000

Question

Use the following information for questions 
Livanos, Inc.reports all its sales on credit, and pays operating costs in the month incurred.Amounts for 2020 are:
  
-Customer amounts on account are collected 70% in the month of sale and 30% in the following month.
-Cost of goods sold is 60% of sales.
-Livanos purchases and pays for merchandise 40% in the month of acquisition and 60% in the following month.
-Operating expenses are: Salaries, $50,000; Depreciation, $12,000; Rent, $15,000; and Utilities, $14,000.
-Accounts payable is used only for inventory acquisitions.
-How much is Livanos' May 31, 2020 budgeted Accounts Receivable?
A)$320,000 
B)$96,000 
C)$224,000 
D)$311,000

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The Answer of Use the following information for questions 
Livanos, Inc.reports all its sales on credit, and pays operating costs in the month incurred.Amounts for 2020 are:
  
-Customer amounts on account are collected 70% in the month of sale and 30% in the following month.
-Cost of goods sold is 60% of sales.
-Livanos purchases and pays for merchandise 40% in the month of acquisition and 60% in the following month.
-Operating expenses are: Salaries, $50,000; Depreciation, $12,000; Rent, $15,000; and Utilities, $14,000.
-Accounts payable is used only for inventory acquisitions.
-How much is Livanos' May 31, 2020 budgeted Accounts Receivable?
A)$320,000 
B)$96,000 
C)$224,000 
D)$311,000

Use the Following Information for Questions