Lara Company has budgeted the following credit sales during the current year: September, $25,000; October,...
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Accounting
Lara Company has budgeted the following credit sales during the current year: September, $25,000; October, $36,000; November, $30,000; December, $32,000. Experience has shown that payment for the credit sales is received as follows: 20% in the month of sale, 60% in the first month after sale, and 20% in the second month after sale. What will be the balance in Accounts Receivable at the end of November assuming the payment patterns have been as described
$26,600
$31,200
$33,800
$39,600
$25,200
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