Vernas makes all sales on account subject to the following, Financial Accounting

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Vernas makes all sales on account subject to the following

Verna's makes all sales on account, subject to the following collection pattern: 30% are collected in the month of sale; 60% are collected in the first month after sale; and 10% are collected in the second month after sale. If sales for October, November, and December were $79,000, $69,000, and $59,000, respectively, what was the budgeted receivables balance on December 31?

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Financial Accounting: Vernas makes all sales on account subject to the following

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Financial Accounting: Vernas makes all sales on account subject to the following

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