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Question 3 10 pts Continued from prior question: The sales budget projects sales (in units) as follows: July=6,000, August 4,800, Sept=5,600, Oct=4,200, Nov-2,500 and
Question 3 10 pts Continued from prior question: The sales budget projects sales (in units) as follows: July=6,000, August 4,800, Sept=5,600, Oct=4,200, Nov-2,500 and Dec=2,000. The expected sale price $5.00 per unit, with cash sales representing 10.0% of budgeted total sales. Expected collections of credit sales are as follows: Month of sales = 30.0%, 1st month after sale = 20.0%, 2nd month after sale = 15.0% and 3rd month after sales = 30.0%. Compute ending accounts receivable for October $28,005 $30,150 $31,050 $34,200
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