NUBD Corporation has a P35,000 balance of account receivable at the beginning of its budget period. It has budgeted P160,000 credit sales and expects to collect 60% of these during the budget period. What is the ending balance of accounts receivable assuming that all but 15% of the beginning balance is collected during the budget period.

NUBD Corporation has a P35,000 balance of account receivable at the beginning of its budget period. It has budgeted P160,000 credit sales and expects to collect 60% of these during the budget period. What is the ending balance of accounts receivable assuming that all but 15% of the beginning balance is collected during the budget period.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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