Crocetti Corporation makes one product and has provided the following information to help prepare the master budget for the next four months of operations: Credit sales are collected:
40% in the month of the sale
60% in the following month
The budgeted accounts receivable balance at the end of February is closest to:

Question

Crocetti Corporation makes one product and has provided the following information to help prepare the master budget for the next four months of operations:  Credit sales are collected:
40% in the month of the sale
60% in the following month
The budgeted accounts receivable balance at the end of February is closest to:

Quizplus · Accepted Answer

The budgeted accounts receivable balance at the end of February is:
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Crocetti Corporation Makes One Product and Has Provided the Following