(Answered) Question - lauras dress delivery operates a mail-order

Accounting

Question - Laura's Dress Delivery operates a mail-order business that sells clothes designed for frequent travelers. It had sales of $750,000 in December. Because Laura's Dress Delivery is in the mail-order business, all sales are made on account. The company expects a 23 percent drop in sales for January. The balance in the Accounts Receivable account on December 31 was $96,700 and is budgeted to be $72,300 as of January 31.

Required: Determine the amount of cash Laura's Dress Delivery expects to collect from accounts receivable during January.

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