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Ratchet Manufacturing anticipates total sales for August, September, and October of $120,000, $130,000, and $140,500 respectively.

Ratchet Manufacturing anticipates total sales for August, September, and October of $120,000, $130,000, and $140,500 respectively. Cash sales are normally 25% of total sales and the remaining sales are on credit. All credit sales are collected in the first month after the sale. Compute the amount of accounts receivable to be reported on the company's budgeted balance sheet for August.

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Answer Amount of accounts... View the full answer

90,000 is the amount of accounts... View the full answer

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