Answer A is wrong Assume a company is preparing a budget for its...
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Accounting
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Assume a company is preparing a budget for its first two months of operations. During the first and second months it expects credit sales of $50,000 and $60,000, respectively. The company expects to collect 40% of its credit sales in the month of the sale and the remaining 60% in the following month. What amount of accounts receivable would the company report in its balance sheet at the end of the second month? Multiple Choice $24,000 $36,000 $20,000
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