A ﬁrm collects 10% of its sales in the month of sale, 60% in the following month, and 30% in the second month following the sale. Sales for the ﬁrm by month are: What is the accounts receivable balance at the end of June?

Question

A ﬁrm collects 10% of its sales in the month of sale, 60% in the following month, and 30% in the second month following the sale. Sales for the ﬁrm by month are:  What is the accounts receivable balance at the end of June?

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The Answer of A ﬁrm collects 10% of its sales in the month of sale, 60% in the following month, and 30% in the second month following the sale. Sales for the ﬁrm by month are:  What is the accounts receivable balance at the end of June?

A ﬁRm Collects 10% of Its Sales in the Month