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The Gardner Company expects sales for October of $250,000. Experience suggests that 40% of sales are for cash and the other 60% are on credit.
The Gardner Company expects sales for October of $250,000. Experience suggests that 40% of sales are for cash and the other 60% are on credit. The company collects 50% of its credit sales in the month of sale and 50% in the month following sale. What is the Accounts Receivable balance on October 31 budgeted balance sheet? \begin{tabular}{c} $136,400 \\ \hline$124,000 \\ $68,200 \\ $75,000 \end{tabular}
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