Aspen Firs had an accounts receivable balance of $21,500 on its December 31, 20x4, balance sheet. Cash receipts for 20x5 show uncollected credit sales of $25,000 at the end of 20x5. Aspen is also budgeting $1,000,000 of credit sales in 20x5. What was the accounts receivable balance on the December 31, 20x5, budgeted balance sheet?

Answer rating: 100% (QA)

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