Question: On average, it takes 3 months before Crane Corp. fully completes the collection cycle for its credit sales. All sales are made on account, with

On average, it takes 3 months before Crane Corp. fully completes the collection cycle for its credit sales. All sales are made on account, with 20% of customers paying in the month of sale, 40% paying the month after sale, and 35% paying their balance 2 months after the sale; the remaining 5% is considered uncollectible. Given Crane's budgeted sales for the 4 months leading up to quarter-end, as shown below, determine the company's collectible (or net) A/R balance on September 30. June July August September Budgeted sales $53,200 $45,900 $72,400 $69,100 A/R balance on September 30

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