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What is the budgeted balance of Ross accounts receivable

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Reference no: EM132863734

Question - Ross Corporation makes all sales on account. The June 30th balance sheet balance in its accounts receivable is $480,000, of which $280,000 pertain to sales that were made during June. Budgeted sales for July are $1,330,000. Ross collects 75% of sales in the month of sale; 10% in the following month; and the final 15% in the second month after the sale. What is the budgeted balance of Ross's accounts receivable as of July 31?

Reference no: EM132863734

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