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Ross corporation makes all sales on account. The June 30th balance sheet balance in its accounts receivable is R310, of which R250 000 pertain to
Ross corporation makes all sales on account. The June 30th balance sheet balance in its accounts receivable is R310, of which R250 000 pertain to sales that were made during June. Budgeted sales for July are R1 160 000. Ross collects 80% of sales in the month of sale, 10% in the following month; and the final 10% in the second month after the sale. What are Ross budgeted collection for July?
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