Kingston budgets total sales for June and July of $380,000 and $408,000, respectively. Cash sales...
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Kingston budgets total sales for June and July of $ and $ respectively. Cash sales are of total sales. Of the credit sales, are collected in the month of sale, are collected during the first month after the sale, and the remaining are collected in the second month after the sale. Determine the amount of accounts receivable reported on the companys budgeted balance sheet as of July Hint: Determine the percent of June and July sales that are uncollected at July
Kingston budgets total sales for June and July of $ and $ respectively. Cash sales are of total sales. Of the credit sales, are collected in the month of sale, are collected during the first month after the sale, and the remaining are collected in the second month after the sale. Determine the amount of accounts receivable reported on the companys budgeted balance sheet as of July Hint: Determine the percent of June and July sales that are uncollected at July
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