Question - Crowe Company expects the following total sales:
Month Sales
March 30,000
April 20,000
May 30,000
June 25,000
The company expects 70% of its sales to be credit sales. Credit sales are collected as follows: 25% in the month of sale, 65% in the month following the sale with the remainder being uncollectible. The budgeted accounts receivable balance on May 30th is
a. $20,550
b. $22,500
c. $13,650
d. $14,350