Junk Fries has budgeted sales for June and July at $680,000 and $720,000, respectively. Sales are 80%
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Question:
Junk Fries has budgeted sales for June and July at $680,000 and $720,000, respectively. Sales are 80% credit, of which 70% is collected in the month of sale and 30% is collected in the following month.
What is the accounts receivable balance on July 31?
Related Book For
Accounting What the Numbers Mean
ISBN: 978-0073527062
9th Edition
Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele,
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