On average, it takes 3 months before Swifty Corp. fully completes the collection cycle for its...

 

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On average, it takes 3 months before Swifty 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 Swifty'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 Budgeted sales $51,400 July August $44,500 $73,000 A/R balance on September 30 $ September $57,100 On average, it takes 3 months before Swifty 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 Swifty'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 Budgeted sales $51,400 July August $44,500 $73,000 A/R balance on September 30 $ September $57,100

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