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You decide to earn some money during the summer by running a lawn mowing service called Blade for Blade, Inc. You plan to work 138 hours per month.You will charge customers $20 per hour and 10% of your customers will pay you in cash and the rest of your customers will pay you in the following month. How much should your estimated accounts receivable balance equal on your balance sheet at the end of the month?

You decide to earn some money during the summer by running a lawn mowing service called Blade for Blade, Inc. You plan to work 138 hours per month.You will charge customers $20 per hour and 10% of your customers will pay you in cash and the rest of your customers will pay you in the following month. How much should your estimated accounts receivable balance equal on your balance sheet at the end of the month?

FINANCIAL ACCOUNTING
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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QUESTION 7 You decide to earn some money during the summer by running a lawn mowing service called Blade for Blade, Inc. You plan to work 138 hours per month.You will charge customers $20 per hour and 10% of your customers will pay you in cash and the rest of your customers will pay you in the following month. How much should your estimated accounts receivable balance equal on your balance sheet at the end of the month?
Transcribed Image Text:QUESTION 7 You decide to earn some money during the summer by running a lawn mowing service called Blade for Blade, Inc. You plan to work 138 hours per month.You will charge customers $20 per hour and 10% of your customers will pay you in cash and the rest of your customers will pay you in the following month. How much should your estimated accounts receivable balance equal on your balance sheet at the end of the month?
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