Multiple Choice
Junk Fries has budgeted sales for June and July at $680,000 and $720,000, respectively. Sales are 80% credit, of which 70% is collected in the month of sale and 30% is collected in the following month. What is the accounts receivable balance on July 31?
A) $200,500
B) $172,800
C) $158,200
D) $225,320
Correct Answer:
Verified
Correct Answer:
Verified
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