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Foster Company budgeted its January sales to be 10,000...

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Accounting

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Foster Company budgeted its January sales to be 10,000 units of its interactive watches. Because of an aggressive marketing campaign, Foster expects sales to increase by 10% each month. The selling price is $20 each. Based on past experience, all sales will be on account. 50% of the sales will be collected in the same month as the sale, 30% are collected one month later and 20% are collected two months later. Budget Drill #10 Assuming the month of January began with no account receivable balance, what is the budgeted account receivable balance for the end of January

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