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Heat Corporation has budgeted for the following sales: July August September October November December $445,400 $580,400 $615, 200 $890, 200 $732,000 $692,000 Sales are collected
Heat Corporation has budgeted for the following sales: July August September October November December $445,400 $580,400 $615, 200 $890, 200 $732,000 $692,000 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 Heat's budgeted balance sheet at December 31, at what amount will accounts receivable be shown? Multiple Choice $692,000 $146,400 oooo $734,600 $588,200
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