Gardner Company expects sales for October of $255,000. Experience suggests that 40% of sales are...
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Gardner Company expects sales for October of $255,000. Experience suggests that 40% of sales are for cash and 60% are on credit. The company collects 50% of its credit sales in the month of sale and 50% in the month following sale. Budgeted Accounts Receivable on September 30 is $70,500.
What is the amount of Accounts Receivable on the October 31 budgeted balance sheet?
Gardner Company expects sales for October of $255,000. Experience suggests that 40% of sales are for cash and 60% are on credit. The company collects 50% of its credit sales in the month of sale and 50% in the month following sale. Budgeted Accounts Receivable on September 30 is $70,500.
What is the amount of Accounts Receivable on the October 31 budgeted balance sheet?
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