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Cash Sales Credit Sales 50,000 150,000 July August September 55,000 170,000 45,000 130,000 October 50,000 145,000 November 60,000 200,000 December 80,000 350,000 The company is
Cash Sales Credit Sales 50,000 150,000 July August September 55,000 170,000 45,000 130,000 October 50,000 145,000 November 60,000 200,000 December 80,000 350,000 The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end the following information has been assembled Collections on credit sales: 60% in month of sale 30% in month following sale 10% in second month following sale What is the budgeted accounts receivable balance on December 1? Select one: O A 80,000 OB. 140,000 O C. 94.500 D. 131,300
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