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9) The Stokes Company has obtained the following sales forecast data: April May June July...

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Accounting

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9) The Stokes Company has obtained the following sales forecast data: April May June July Cash Sales $80,000 $70,000 $50,000 $60,000 $340,00 0 $320,00 0 $280,00 0 $300,00 0 Credit Sales The regular pattern of collection of credit sales is 25% in the month of sale and 75% in the month following the month of sale. There are no bad debts. The budgeted accounts receivable balance on June 30th is: a. $225,000 b. $70,000 C. $247,500 d. $210,000

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