Carruthers Company expects the following total sales:
Month Sales
March $29,000
April $19,000
May $25,000
June $24,000
The company expects 70% of its sales to be credit sales and 30% for cash. Credit sales are collected as follows: 25% in the month of sale, 67% in the month following the sale with the remainder being uncollectible and written off in the month following the sale. The budgeted accounts receivable balance on May 31 is:
a. $22,320.
b. $18,750.
c. $13,125.
d. $11,725.
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