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Determine the amount of accounts receivable reported

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Question - Computing budgeted accounts receivable - Kingston budgets total sales for June and July of $380,000 and $368,000, respectively. Cash sales are 70% of total sales. 0f the credit sales, 15% are collected in the month of sale, 65% are collected during the first month after the sale, and the remaining 20% are collected in the second month after the sale. Determine the amount of accounts receivable reported on the company's budgeted balance sheet as of July 31.

Reference no: EM133186634

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