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The Gardner Company expects sales for October of $247,000. Experience suggests that 45% of sales are for cash and 55% are on credit. The company
The Gardner Company expects sales for October of $247,000. Experience suggests that 45% of sales are for cash and 55% are on credit. The company collects 50% of its credit sales in the month of sale and 50% in the month following sale. Budgeted Accounts Receivable on September 30 is $66,500. What is the amount of Accounted Receivables on the October 31 budgeted balance sheet? $111,150. $123,500. $66,500. $67,925. $135,850
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