You plan on starting a lawn mowing business by investing $700 of your own money...
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Accounting
You plan on starting a lawn mowing business by investing $700 of your own money and purchasing $500 of equipment. You plan to work 80 hours in your first month and 290 hours in your second month of business. You charge your customers $23 per hour. Your anticipated costs include: Advertising $8 per month Gas $1,30 per hour Depreciation $25 per month Assistant's Wages $8.00 per hour Miscellaneous Expenses $30 per month You plan on collecting 90% of your sales in the month you mow the lawn and the remainder in the following month. Calculate the accounts receivable balance at the end of your second month of business
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