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harrti corporation has budgeted for the following sales:july$447,000august$582,000september$616,000october$891,000november$740,000december$700,000sales 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 harrti's budgeted balance sheet at december 31, at what amount will accounts receivable be shown?
harrti corporation has budgeted for the following sales:july$447,000august$582,000september$616,000october$891,000november$740,000december$700,000sales 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 harrti's budgeted balance sheet at december 31, at what amount will accounts receivable be shown?
Final answer:To calculate the accountsreceivablein the budgeted balance sheet at December 31 for Harrti Corporation, we need to calculate the collections for each month based on the given sales distribution. The total collections amount to $1,551,150, which will be shown as accounts receivable.Explanation:To calculate the amount of accounts receivable that will be shown in Harrti Corporation's budgeted balance sheet at December 31, we need to determine the portion of sales that will be collected in each month. According to the given information, 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.We can calculate the collections for each month as follows:July sales: $447,000 x 20% = $89,400 collected in JulyAugust sales: $582,000 x (20% + 55%) = $407,400 collected in AugustSeptember sales: $616,000 x (55% + 25%) = $471,600 collected in SeptemberOctober sales: $891,000 x (25%) = $222,750 collected in OctoberNovember sales: $740,000 x (25%) = $185,000 collected in NovemberDecember sales: $700,000 x (25%) = $175,000 collected in DecemberTo find the total collections, we sum up the collections for each month: $89,400 + $407,400 + $471,600 + $222,750 + $185,000 + $175,000 = $1,551,150.Therefore, the amount ofaccountsreceivable shown in Harrti Corporation's budgeted balance sheet at December 31 will be $1,551,150.Learn more about Accounts Receivable here:brainly.com/question/31928398#SPJ1...