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What opening accounts receivable balance as at july will be

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Problem 1: Debtor collections are 60% in the month of the sale, 30% in the month after the sale and 10% in the second month after the sale. Credit sales are $15,000 for April, $14,300 for May and $13,200 for June. The opening Accounts Receivable balance as at 1 July will be:

a. $16,500
b. $6,710
c. $14,610
d. $13,200

Reference no: EM132931021

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