(Answered) Question - caba corporations sales budget for the first

Accounting

Question - Caba Corporation's sales budget for the first half of the year is as follows:

Budgeted Sales

January $ 115,000

February $ 198.000

March $ 220,000

April $ 250,000

May $ 210,000

June $ 290,000

Total: $ 1,283,000

Sales are 30% cash and 70% on account. Sales on account are to be collected over a three-month period, with 20% collected in the month of the sale, 65% collected in the first month following the sale, and 15% collected in the second month following the sale. What is the budgeted balance in the Accounts Receivable account as of June 30?

a. $184,450

b. $263,500

c. $249,400

d. $232,000

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