Petal Co. reported the following information for 2016: 
-All sales are on credit.
-Customer amounts on account are collected 50% in the month of sale and 50% in the following month.
How much is the November 30, 2016 budgeted Accounts Receivable?
A) $900,000
B) $540,000
C) $465,000
D) $435,000
Correct Answer:
Verified
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