Question

Harrti Corporation has budgeted for the following sales: July $ 448,400 August $ 583,400 September $...

Harrti Corporation has budgeted for the following sales:

July $ 448,400
August $ 583,400
September $ 616,700
October $ 891,700
November $ 747,000
December $ 707,000

Sales are collected as follows: 15% in the month of sale; 65% in the month following the sale; and the remaining 20% in the second month following the sale. In Harrti's budgeted balance sheet at December 31, at what amount will accounts receivable be shown?

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