Question
Nour Corporation has budgeted for the following sales: July $ 447,400 August $ 582,400 September $ 616,200 October $ 891,200 November $ 742,000 December $
Nour Corporation has budgeted for the following sales:
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|
|
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| July | $ | 447,400 |
| August | $ | 582,400 |
| September | $ | 616,200 |
| October | $ | 891,200 |
| November | $ | 742,000 |
| December | $ | 702,000 |
|
| ||
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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.
Required: Calculate the amounts of accounts receivable In Nour's budgeted balance sheet at December 31.
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IRS Audit Protection And Survival Guide Bars And Restaurants
Authors: Gerald F. Bernard, Daniel J. Baran
1st Edition
0471166375, 978-0471166375
