Kuzma Foods, Inc. has budgeted sales for June and July at $690,000.00 and $740,000.00, respectively. Sales are 90% credit, of which 70% is collected in the month of sale and 30% is collected in the following month. What is the budgeted Accounts Receivable balance on July 31? O A. $186,300.00 O B. $666.0000.00 OC. $199,800.00 O D. $222,000.00

Kuzma Foods, Inc. has budgeted sales for June and July at $690,000.00 and $740,000.00, respectively. Sales are 90% credit, of which 70% is collected in the month of sale and 30% is collected in the following month. What is the budgeted Accounts Receivable balance on July 31? O A. $186,300.00 O B. $666.0000.00 OC. $199,800.00 O D. $222,000.00

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 13EA: What is the amount of budgeted cash payments if purchases are budgeted for $420,000 and the...

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