Assume a company is preparing a budget for its first two months of operations. During the first and
second months it expects credit sales of $50,000
and $60,000, respectively The company expects
to collect 40% of its credit sales in the month of
the sale, 55 % in the following month, and 51% is
deemed uncollectible. What amount of accounts
receivable (net) would the company report in its
balance sheet at the end of the second month ? |
$54,500; ($51; ($33,000; ($24,000