Atwood Lake Boats has budgeted sales for June and July at $420,000 and $480,000,respectively.Sales are 80% credit,of which 40% is collected in the month of sale and 60% is collected in the following month.What is the accounts receivable balance on July 31?

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The Answer of  Atwood Lake Boats has budgeted sales for June and July at $420,000 and $480,000,respectively.Sales are 80% credit,of which 40% is collected in the month of sale and 60% is collected in the following month.What is the accounts receivable balance on July 31?

Atwood Lake Boats Has Budgeted Sales for June and July