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In the coming year, Game Monster, Inc., will be introducing its first product, a wrist brace that protects serious video gamers from repetitive-motion injuries. The
In the coming year, Game Monster, Inc., will be introducing its first product, a wrist brace that protects serious video gamers from repetitive-motion injuries. The brace will be sold for $16 to retailers throughout the country. All sales will be made on account. An expected 63 percent of sales will be collected within the quarter of the sale, and another 32 percent in the quarter following the sale. The remaining 5 percent of credit sales are expected to be uncollectible. The sales budget for the coming year is as follows: Prepare Game Monster, Inc.'s, cash receipts budget for the coming year. (Enter answers in necessary fields only. Leave other fields blank. Do not enter 0.) Calculate accounts receivable balance at the end of the last quarter, net of allowance for doubtful accounts. Assume that no accounts have been written off during the year
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