Gardner Company expects sales for October of $256,000. Experience suggests that 40% of sales are for cash and 60% 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 $71,000. What is the amount of Accounts Receivable on the October 31 budgeted balance sheet?a. $102,400.b. $128,000.c. $71,000.d. $76,800.e. $153,600.

$76,800

Explanation:

Calculation for the amount of Accounted Receivables on the October 31 budgeted balance sheet

Accounted Receivables on the October 31 budgeted balance sheet=(60% *256,000* 50%)

Accounted Receivables on the October 31 budgeted balance sheet= $76,800

Therefore the Accounted Receivables on the October 31 budgeted balance sheet will be $76,800

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