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Bonkowski Corporation makes one product and has provided the following information to help prepare the...

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Accounting

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Bonkowski Corporation makes one product and has provided the following information to help prepare the master budget for the next four months of operations: Credit sales are collected: 30% in the month of the sale 70% in the following month Raw materials purchases are paid: 30% in the month of purchase. 70% in the following month The ending finished goods inventofy should equal 30% of the following month's sales. The ending raw materiais inventory should equal 10% of the following month's raw materials production needs. The budgeted accounts recelvable balance at the end of February is closest to: Mutiple Choice $349,200 $814,800 Multiple Choice $349,200 $814,800 $776,000 $1,164,000

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