Question
Green company's sales are 20% cash and 80% credit. of the credit sales, 60% are collected in the month of sale and 30% in the
Green company's sales are 20% cash and 80% credit. of the credit sales, 60% are collected in the month of sale and 30% in the month following the sale. The balance is collected during the following month. Budgeted sales data is as follows:
June $300,000
July $250,000
August $280,000
September $310,000
How much is total accounts receivable at the end of August?
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Managerial Accounting
Authors: James Jiambalvo
3rd Edition
0470038152, 978-0470038154
