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Flathead Artifacts (a retailer) has the following sales budget for next year. Flathead has a gross...

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Accounting

Flathead Artifacts (a retailer) has the following sales budgetfor next year. Flathead has a gross margin of 40%. Flathead sellseverything on credit. Accounts are expected to be collected asfollows: 35% in the quarter of the sales; 55% in the quarterfollowing the sale; 10% in the second quarter following thesale.

Quarter 1Quarter 2Quarter 3Quarter 4
Sales Revenue$100,000$120,000$90,000$80,000

A. What is budgeted cost of goods sold for Quarter 3?

B. What is accounts receivable on the balance sheet at the endof Quarter 4?

Enter a number (no punctuation or other characters).

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Flathead Artifacts (a retailer) has the following sales budgetfor next year. Flathead has a gross margin of 40%. Flathead sellseverything on credit. Accounts are expected to be collected asfollows: 35% in the quarter of the sales; 55% in the quarterfollowing the sale; 10% in the second quarter following thesale.Quarter 1Quarter 2Quarter 3Quarter 4Sales Revenue$100,000$120,000$90,000$80,000A. What is budgeted cost of goods sold for Quarter 3?B. What is accounts receivable on the balance sheet at the endof Quarter 4?Enter a number (no punctuation or other characters).

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