Business, 30.11.2020 01:00 bubba24640
Vern's makes all sales on account, subject to the following collection pattern: 20% are collected in the month of sale; 70% are collected in the first month after sale; and 10% are collected in the second month after sale. If sales for October, November, and December were $70,000, $60,000, and $50,000, respectively, what was the budgeted receivables balance on December 31?
A. $40,000.
B. $46,000.
C. $49,000.
D. $59,000.
E. Some other amount
Answers: 3
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