A breakdown of Teffan, Inc.'s outstanding accounts receivable dated June 30, 2003 follows, on the basis of the month in which the credit sale was initially made. The firm extends 30-day credit terms.
-Accounts receivable over 90 days total___________
A) $200,000
B) $100,000
C) $470,000
D) $300,000
Correct Answer:
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