MNO Corporation has a P35,000 balance of account receivable at the beginning of its budget...
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Accounting
MNO Corporation has a P35,000 balance of account receivable at the beginning of its budget period. It has budgeted P230,000 credit sales and expects to collect 70% of these during the budget period. What is the ending balance of accounts receivable assuming that all but 10% of the beginning balance is collected during the budget period.
a. P72,500
b. P3,560
c. P51,500
d. P143,500
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