Leaning Tower of Pizza, Inc. is preparing its master budget for its first quarter of...
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Accounting
Leaning Tower of Pizza, Inc. is preparing its master budget for its first quarter of business. It expects to sell 2,000 pizzas at $7 per pizza per month. It expects to collect 80% of the sales revenue in the month of the sale and the remainder in the following month. Calculate its accounts receivable balance at the end of its first quarter.
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