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    yazeedbakri's Avatar
    yazeedbakri Posts: 6, Reputation: 1
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    #1

    Aug 13, 2010, 03:08 PM
    Acorn Company's budgeted credit sales are as follows: April: $100,000 May: $120,0
    Acorn Company's budgeted credit sales are as follows: 11)
    April: $100,000
    May: $120,000
    June: $125,000
    Acorn collects 30% of their credit sales during the month of sale, 50% during the month following
    The sale, and the remaining 20% two months after the month of sale. What is the budgeted accounts
    Receivable balance on June 30th?
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    Aug 13, 2010, 07:39 PM

    Please see our guidelines for posting homework problems:
    https://www.askmehelpdesk.com/financ...-b-u-font.html
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #3

    Aug 14, 2010, 07:32 AM

    For the month of sale take the amount * 30%
    For the month folling the sale take the month of sale * 50%
    For 2 months after the sale take the month of sale * 20%

    Add all of your collections.

    Your accounts receivable will be the difference between sales and collections.
    yazeedbakri's Avatar
    yazeedbakri Posts: 6, Reputation: 1
    New Member
    		  
    #4

    Aug 14, 2010, 08:30 AM

    I tried that and I end up with $210,000 which is not one of my options :S thanks though
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #5

    Aug 14, 2010, 11:14 PM

    Why don't you show us your work so that we can see what you're doing wrong?
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