Harrti Corporation has budgeted for the following sales: July $447,000 August $582,000 September $616,000 October $891,000...

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Harrti Corporation has budgeted for the following sales: July $447,000 August $582,000 September $616,000 October $891,000 November $740,000 December $700,000 Sales are collected as follows: 20% in the month of sale; 55% in the month following the sale; and the remaining 25% in the second month following the sale. In Harrti's budgeted balance sheet at December 31, at what amount will accounts receivable be shown? Harrti Corporation has budgeted for the following sales: July $447,000 August $582,000 September $616,000 October $891,000 November $740,000 December $700,000 Sales are collected as follows: 20% in the month of sale; 55% in the month following the sale; and the remaining 25% in the second month following the sale. In Harrti's budgeted balance sheet at December 31, at what amount will accounts receivable be shown?

Answer rating: 100% (QA)

July sales 447000 20 collected in July 89400 55 collected in August 245850 25 collected in September ... View the full answer