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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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Which of the following best describes how consumers make financial decisions in a market economy? A. The media forces consumers
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B. They make choices based on their self-interests.

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3 years ago
Alphonse is attending college next year. He received this offer from a university. His parents told him they would pay for his r
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Linda purchased a washing machine and dryer set for $1,299 on a deferred payment plan. She needs to pay $80
lisov135 [29]

Answer:

In six months, Linda will pay : $480

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For six months, Linda will have paid $80 times six months

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7 0
3 years ago
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