Solution-What is the budgeted accounts receivable balance

What is the budgeted accounts receivable balance on may

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Question 1: Audrey has forecast sales to be $205,000 in February, $270,000 in March, $290,000 in April, and $310,000 in May. The average cost of goods sold is 60% of sales. All sales are made on credit and sales are collected 50% in the month of sale, 30% the month following and the remainder two months after the sale. What is the budgeted Accounts Receivable balance on May 31?

Reference no: EM132529179

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What is the budgeted accounts receivable balance on may

Reference no: EM132529179

Reference no: EM132529179

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