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49. Razz Company is estimating the following sales for the last six months of 2003: July $45,000 | August $50,000 September $65,000 | October $80,000

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49. Razz Company is estimating the following sales for the last six months of 2003: July $45,000 | August $50,000 September $65,000 | October $80,000 November $75,000 December $60,000 Sales at Razz are normally collected as 10% in the month of sale, 60% in the month following the sale, and the remaining 30% in the second month following the sale. In Razz's budgeted balance sheet at December 31, 2003, at what amount will accounts receivable be shown? a. $49,500 b. $76,500 c. $120,500 d. $135,500 e. None of the above answers is correct

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