1. The CRCR Corporation is doing budgets for the last quarter of its fiscal year which ends on December 31. The
company expects to make total sales by month of:
Of total sales each month 40% will be in cash. Remaining sales will be made on credit. The company expects to collect 55% of all credit sales
in the month the sale was made and in time for the customer to take a 2.5% prompt payment sales discount. The company will collect an additional 40% of credit
sales in the month after the sale. What is the expected balance in accounts receivable at the end of November?