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Heat Corporation has budgeted for the following sales:
July $447,600
August $582,600
September $616,300
October $891,300
November $743,000
December $703,000
Problem 1: Sales are collected as follows: 20% in the month of sale; 55% in the month following the sale; and the remaining 25% in the second month following the sale. In Heat's budgeted balance sheet at December 31, at what amount will accounts receivable be shown?
As you run the simulation keep track of your decisions and keep track of the results - both financial and marketing. You can copy and paste the results into Excel or into a Word document.
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