Problemif the actual february 28 ar balance was 12000 and, Ask an Expert

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Problem:

If the actual February 28 A/R balance was $12,000 and projected sales in March are $50,000, where 70% of sales are on credit, 60% of credit sales are collected in the month of the sale, and 40% are collected in the month after the sale,

Required:

Question 1: What is the projected A/R balance on the pro forma balance sheet for the end of March? Please provide step by step solution.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91147017

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