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The following sales budget has been prepared: Month Cash Sales Credit Sales September $100,000 $200,000 October 125,000 180,000 November 207,000 199,000 December 67,000 144,000 Collections
The following sales budget has been prepared: Month Cash Sales Credit Sales September $100,000 $200,000 October 125,000 180,000 November 207,000 199,000 December 67,000 144,000 Collections are 50% in the month of sale, 40% in the month following the sale, and 10% two months following the sale. No uncollectible accounts are anticipated. What is the expected balance of Accounts Receivable as of October 31
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