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ollegr [7]
2 years ago
6

Fortune Inc. 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?
Business
1 answer:
Marat540 [252]2 years ago
8 0

Answer: $172,800

Explanation:

Accounts receivable balance records those who still owe the company.

July accounts receivable balance = 30% of credit sales in July.

Credit sales in July = 80% * 720,000

= $576,000

Accounts receivable at end of July = 576,000 * 30%

= $172,800

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<h3>What is an international trade?</h3>

This refers to the economic transactions that are made or took place between countries.

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Knowing these organizations and their main functions will help you to understand foreign trade, its characteristics in a b¿globalizaed world, and the peculiarities according to each region. Every trade agreement has its details and you want to become an expert in the region you choose to maximize your sales and profits.

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