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As the company is preparing its schedule of cash

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Mimosa Company is putting together its budget for the first half of the coming year. Based on its history, the company expects 70% of its Sales to be on credit with the remaining in cash. Mimosa budgeted the following in total Sales per month:


 January February March April May June
Sales $437,500 $250,000 $181,250 $162,500 $212,500 $187,500

As the company is preparing its schedule of cash collections for its treasury department, the following collection curve(schedule) is being used:

55% in the month of sale

30% in the month following sale

10% in the second month following sale

5% uncollectible

Q. What is the budgeted net accounts receivable balance on March 31 for Mimosa Company?

Reference no: EM13579940

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