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The LaGrange Corporation had the following budgeted sales for the first half of the current year: Collections on sales: 40% in month of sale 45%

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The LaGrange Corporation had the following budgeted sales for the first half of the current year: Collections on sales: 40% in month of sale 45% in month following sale 15% in second month following sale What is the budgeted accounts recelvable balance on May 31? Multiple Choice $116,250 $114,000 $131,250 $247,500

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