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How compute the amount of accounts receivable reported

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Question 1: Memphis18 Company anticipates total sales for April, May, and June of $930,000, $1,030,000, and $1,080,000 respectively. Cash sales are normally 20% of total sales. Of the credit sales, 35% are collected in the same month as the sale, 60% are collected during the first month after the sale, and the remaining 5% are collected in the second month. Compute the amount of accounts receivable reported on the company's budgeted balance sheet for June 30.

Reference no: EM132593999

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