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Diamond Inc started the month with $3.21 million in accounts receivable. Sales for the month were $7.84 million. The firm collects 20% of its sales

Diamond Inc started the month with $3.21 million in accounts receivable. Sales for the month were $7.84 million. The firm collects 20% of its sales in the month of sale with the remainder paid the following month. What is the accounts receivable balance at month end?

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