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Q1) Pitney Company's sales are 40% cash and 60% credit. 50% of credit sales are gathered in month of sale, 30% in the month following the sale, and 20% is collected two months after. Budgeted sales data is as follows:

June
$120,000
July
$80,000
August
$100,000

Accounts receivable at end of August are?

Accounting Basics, Accounting

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  • Reference No.:- M920733

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