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Crowe Company expects the following total sales: March sales- $30,000; April sales- $20,000; May sales- $30,000; June sales- $25,000; The company expects 70% of its
Crowe Company expects the following total sales: March sales- $30,000; April sales- $20,000; May sales- $30,000; June sales- $25,000; The company expects 70% of its sales to be credit sales and 30% for cash. Credit sales are collected as follows: 25% in the month of sale, 72% in the month following the sale with the remainder being uncollectible and written off in the month following the sale. The budgeted accounts receivable balance on May 31 is $15,750. How do you get this answer ($15,750)?
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