Compton Company expects the following total sales:MonthSalesMarch$24,000? April$14,000? May$30,000? June$19,000? The company expects 70% of its sales to be credit sales and 30% for cash. Credit sales are collected as follows: 25% in the month of sale, 75% in the month following the sale. The budgeted accounts receivable balance on May 31 is:
A. $14,350.
B. $15,870.
C. $15,750.
D. $22,500.
Answer: C
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