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gardner company expects sales for october of $239,000. experience suggests that 45% of sales are for cash and 55% are on credit. the company collects 50% of its credit sales in the month of sale and 50% in the month following sale. budgeted accounts receivable on september 30 is $62,500. what is the amount of accounts receivable on the october 31 budgeted balance sheet?

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The amount of accounts receivable on the October 31 budgeted balance sheet equals to $70,400.

What is an accounts receivable?

In accounting, an accounts receivable means the money a company's customers owe for goods or services they have received but not yet paid for. For instance, when the customers purchase products on credit, the amount owed gets added to the accounts receivable.

The calculation for the amount of Accounted Receivables on the October 31 budgeted balance sheet is as follows:

= 55% *256,000* 50%

= $70,400 Therefore, the Accounted Receivables on the October 31 budgeted balance sheet will equals to the amount of $70,400.

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