(Answered) If the actual december 31st ar balance was 12000 projected

Finance

If the actual December 31st A/R balance was $12,000; projected sales in January are $50,000; 70% of sales are on credit; 60% of credit sales are collected in the month of sale and 40% are collected in the month after the sale, what is the projected A/R balance on the pro form a balance sheet for the end of January?

a. $26,000

b. $14,000

c. $20,000

d. $35,000

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