Explain what is the accounts receivable

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Reference no: EM13219023

Atwood Lake Boats has budgeted sales for June and July at $420,000 and $480,000, respectively. Sales are 80% credit, of which 40% is collected in the month of sale and 60% is collected in the following month. What is the accounts receivable balance on July 31?

Reference no: EM13219023

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