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Lakewood Jet Skis has budgeted sales for June and July at $420,000 and $500,000, respectively....

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Accounting

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Lakewood Jet Skis has budgeted sales for June and July at $420,000 and $500,000, respectively. Sales are 65% credit, of which 20% is collected in the month of the sale and 80% is collected in the following month. What is the accounts receivable balance on July 317 O A. $400,000 O B. $260,000 OC. $218,400 OD. $325,000 Two Brothers Moving prepared the following sales budget Month Cash Sales Credit Sales March $24,000 $6,000 April $36,000 $12,000 May $45,000 $36,000 June $60,000 $47.000 Credit collections are 62% in the month of sale, 30% in the month following the sale, and 5% two months following the sale. The remaining 3% is expected to be uncollectible O A $7,440 O B. $39,720 OC. $3,720 OD. 543,440

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