Harrti Corporation has budgeted for the following sales: July $448,600 August $583,600 September $616,800 October $891,800 November $748,000 December $708,000 Sales are collected as follows: 10% in the month of sale; 60% in the month following the sale; and the remaining 30% in the second month following the sale. In Harrti's budgeted balance sheet at December 31, at what amount will accounts receivable be shown?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Harrti Corporation has budgeted for the
following sales: July $448,600 August $583,600
September $616,800 October $891,800
November $748,000 December $708,000 Sales
are collected as follows: 10% in the month of
sale; 60% in the month following the sale; and
the remaining 30% in the second month
following the sale. In Harrti's budgeted balance
sheet at December 31, at what amount will
accounts receivable be shown?
Transcribed Image Text:Harrti Corporation has budgeted for the following sales: July $448,600 August $583,600 September $616,800 October $891,800 November $748,000 December $708,000 Sales are collected as follows: 10% in the month of sale; 60% in the month following the sale; and the remaining 30% in the second month following the sale. In Harrti's budgeted balance sheet at December 31, at what amount will accounts receivable be shown?
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