Question
Harrti Corporation has budgeted for the following sales: July $ 446,800 August $ 581,800 September $ 615,900 October $ 890,900 November $ 739,000 December $
Harrti Corporation has budgeted for the following sales:
| July | $ | 446,800 |
| August | $ | 581,800 |
| September | $ | 615,900 |
| October | $ | 890,900 |
| November | $ | 739,000 |
| December | $ | 699,000 |
Sales are collected as follows: 10% in the month of sale; 60% in the month following the sale; and the remaining 30% in the second month following the sale. In Harrti's budgeted balance sheet at December 31, at what amount will accounts receivable be shown?
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Expert Systems And Artificial Intelligence In Internal Auditing
Authors: Daniel E. O'Leary, Paul R. Watkins
1st Edition
1558760865, 978-1558760868
