Question
Harrti Corporation has budgeted for the following sales: July $ 447,200 August $ 582,200 September $ 616,100 October $ 891,100 November $ 741,000 December $
Harrti Corporation has budgeted for the following sales:
| July | $ | 447,200 |
| August | $ | 582,200 |
| September | $ | 616,100 |
| October | $ | 891,100 |
| November | $ | 741,000 |
| December | $ | 701,000 |
Sales are collected as follows: 15% in the month of sale; 65% in the month following the sale; and the remaining 20% 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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Financial Accounting And Reporting For Non Accounting Students How To Interpret Financial Statements And Appraise Company Performance
Authors: Stephen Frost
1st Edition
1398614084, 978-1398614086
