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Fern Corporation's monthly sales budget is as follows: Sales are collected 15% in the month of sale, 65% in the month following the sale, and

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Fern Corporation's monthly sales budget is as follows: Sales are collected 15% in the month of sale, 65% in the month following the sale, and the remaining 20% in the second month following the sale. What is Fern's budgeted accounts receivable balance on December 31 ? $607.500

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