Bright Minds Toy Company prepared the following sales budget for the second quarter, Projected sales...
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Bright Minds Toy Company prepared the following sales budget for the second quarter, Projected sales for each of the first three months of operations -are as follows: Bright Minds expects to collect 70% of the sales on account in the month of sale, 20% in the month following the sale, and the remainder in the second month following the sale. What is the ending accounts recelvable balance that would be reported on the pro forma balance sheet prepared as of June 30 ? What is the ending accounts recelvable balance that would be reported on the pro forma balance sheet prepared as of June 30? Multiple Choice $198,900 $146,700 $338,000 $104,400
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