70. CSO: 1A4b LOS: 1A4y
Granite Company sells products exclusively on account, and has experienced the
following collection pattern: 60% in the month of sale, 25% in the month after sale, and
15% in the second month after sale. Uncollectible accounts are negligible. Customers
who pay in the month of sale are given a 2% discount. If sales are $220,000 in January,
$200,000 in February, $280,000 in March, and $260,000 in April, Granite’s accounts
receivable balance on May 1 will be
a. $107,120.
b. $143,920.
c. $146,000.
d. $204,000.
Bạn đang xem 70. - CMA EXAM SUPPORT PACKAGE 1
