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Sunny Tea Company prepared the following sales budget for the first three months of operations: Sales Budget April May June Cash Sales 110 , 000
Sunny Tea Company prepared the following sales budget for the first three months of operations: Sales Budget April May June Cash Sales 110 , 000 75, 000 135,000 Sales on Account 450, 000 496, 000 485,000 560, 000 571, 000 620,000 Sunny Tea expects to collect 70% of the sales on account in the month of sale, 20% in the month following the sale, and the remainder in the second month following the sale. What is the ending accounts receivable balance that would be reported on the pro forma balance sheet prepared as of June 30? Multiple Choice $102,400 O $332,000 O $195,100 O $143,900
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