(Answered) Question - the gardner company expects sales for october of

Accounting

Question - The Gardner Company expects sales for October of $248,000. Experience suggests that 45% of sales are for cash and 55% are on credit. The company collects 50% of its credit sales in the month of sale and 50%in the month following sale. Budgeted Accounts Receivable on September 30 is $67,000. What is the amount of Accounts Receivable on the October 31 budgeted balance sheet?

A) $68,200

B) $136,400

C) $111,600

D) $67,000

E) $124,000

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