Memphis Company anticipates total soles for April, May, and June of $990,000,$1,090,000, and $1,140,000 respectively....
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Memphis Company anticipates total soles for April, May, and June of $990,000,$1,090,000, and $1,140,000 respectively. Cash sales are normally 20% of total sales. Of the credit sales, 35% are collected in the same month as the sale, 60% are collected during the first month after the sale, and the remaining 5% are collected in the second month after the sole. Compute the amount of accounts receivable reported on the company's budgeted balance sheet for June 30 . Multiple Chalce $740.800. $592,800. $1,070,400 $998.400
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