50 of credit sales are gathered in month of sale 30 in the, Ask an Expert

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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?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M920733

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