Compute the amount of accounts receivable reported

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Memphis Company anticipates total sales for April, May, and June of $810,000, $910,000, and $960,000 respectively. Cash sales are normally 20% of total sales. Of the credit sales, 35% are collected in the same month as the sale, 60% are collected during the first month after the sale, and the remaining 5% are collected in the second month. Compute the amount of accounts receivable reported on the company's budgeted balance sheet for June 30.

Reference no: EM132013633

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