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Ross Corporation makes all sales on account.The June 30th balance sheet balance in its accounts receivable is $400,000,of which $240,000 pertain to sales that were made during June.Budgeted sales for July are $1,250,000.Ross collects 70% of sales in the month of sale;20% in the following month;and the final 10% in the second month after the sale.
-What is the budgeted balance of Ross's accounts receivable as of July 31?
Phallic Stage
A phase in Freudian psychosexual development, occuring between ages three and six, where the focus of the libido is on the genital area.
Personality Development
The continuous growth and change in an individual's personality characteristics and behaviors throughout their lifespan.
Marry
The legal or formal union of two people as partners in a personal relationship, commonly recognized by law or cultural norms.
Oedipal Complex
A concept in psychoanalytic theory referring to a child’s unconscious sexual desire for the opposite-sex parent and jealousy toward the same-sex parent.
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