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Sales are 85 credit of which 60 is collected in the month

Question - McLeod Fries, Inc. has budgeted sales for June and July at $670,000 and $770,000, respectively. Sales are 85% credit, of which 60% is collected in the month of sale and 40% is collected in the following month. What is the budgeted Accounts Receivable balance on July 31?

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Accounting Basics: Sales are 85 credit of which 60 is collected in the month

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