Mercurius forecasts the following sales figures for the next four months. June July August September 420,000 350,000 380,000 440,000 Cash sales average 15% of total sales. Credit sales are collected 60% in the month of sale and 40% in the month following sale.  What is Mercurius' estimated accounts receivable balance on 30 September? (Answer without comma separators, e.g., 1000 instead of 1,000)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Mercurius forecasts the following sales figures for the next four months.

June July August September
420,000 350,000 380,000 440,000


Cash sales average 15% of total sales. Credit sales are collected 60% in the month of sale and 40% in the month following sale. 

What is Mercurius' estimated accounts receivable balance on 30 September?
(Answer without comma separators, e.g., 1000 instead of 1,000)

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