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Lakewood Jet Skis has budgeted sales for June and July at $420,000 and $520,000, respectively. Sales are 85% credit, of which 40% is collected in

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Lakewood Jet Skis has budgeted sales for June and July at $420,000 and $520,000, respectively. Sales are 85% credit, of which 40% is collected in the month of the sale and 60% is collected in the following month. What is the accounts receivable balance on July 31

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