As the company is preparing its schedule of cash

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Reference no: EM13579940

Mimosa Company is putting together its budget for the first half of the coming year. Based on its history, the company expects 70% of its Sales to be on credit with the remaining in cash. Mimosa budgeted the following in total Sales per month:

	January	February	March	April	May	June
Sales	$437,500	$250,000	$181,250	$162,500	$212,500	$187,500

As the company is preparing its schedule of cash collections for its treasury department, the following collection curve(schedule) is being used:

55% in the month of sale

30% in the month following sale

10% in the second month following sale

5% uncollectible

Q. What is the budgeted net accounts receivable balance on March 31 for Mimosa Company?

Reference no: EM13579940

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