Petal Co.reported the following information for 2016: $\begin{array}{lr}
&\text { October }&\text { November }&\text { December }\
\text { Budgeted sales }&\$930,000&\$870,000&\$1,080,000
\end{array}$ •All sales are on credit.
•Customer amounts on account are collected 50% in the month of sale and 50% in the following month.
How much is the November 30, 2016 budgeted Accounts Receivable?
A)$900,000
B)$540,000
C)$465,000
D)$435,000

Question

Petal Co.reported the following information for 2016: $\begin{array}{lr}
&\text { October }&\text { November }&\text { December }\
\text { Budgeted sales }&\$930,000&\$870,000&\$1,080,000
\end{array}$ •All sales are on credit. 
•Customer amounts on account are collected 50% in the month of sale and 50% in the following month.
How much is the November 30, 2016 budgeted Accounts Receivable?
A)$900,000
B)$540,000
C)$465,000
D)$435,000

Quizplus · Accepted Answer

The Answer of Petal Co.reported the following information for 2016: $\begin{array}{lr}
&\text { October }&\text { November }&\text { December }\
\text { Budgeted sales }&\$930,000&\$870,000&\$1,080,000
\end{array}$ •All sales are on credit. 
•Customer amounts on account are collected 50% in the month of sale and 50% in the following month.
How much is the November 30, 2016 budgeted Accounts Receivable?
A)$900,000
B)$540,000
C)$465,000
D)$435,000