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5 years ago
McLeod Fries, Inc. has budgeted sales for June and July at $680,000 and $750,000, respectively. Sales are 90% credit, of which 70% is collected in the month of sale and 30% is collected in the following month. What is the budgeted Accounts Receivable balance on July 31?
A) $202,500
B) $675,000
C) $225,000
D) $183,600
Textbook 

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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Mrgo-breedMrgo-breed
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