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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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