NUBD Corporation has a P35,000 balance of account receivable at the beginning of its budget period. It has budgeted P160,000 credit sales and expects to collect 60% of these during the budget period. What is the ending balance of accounts receivable assuming that all but 15% of the beginning balance is collected during the budget period.

NUBD Corporation has a P35,000 balance of account receivable at the beginning of its budget period. It has budgeted P160,000 credit sales and expects to collect 60% of these during the budget period. What is the ending balance of accounts receivable assuming that all but 15% of the beginning balance is collected during the budget period.

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 3P

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