Ross Corporation makes all sales on account. The June 30th balance sheet balance in its accounts receivable is $390,000, of which $240,000 pertain to sales that were made during June. Budgeted sales for July are $1,240,000. 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. Part 1: What are Ross's budgeted collections for July?
Part 2: What is the budgeted balance of Ross's accounts receivable as of July 31?

Banana computers has decided to procure processing chips required for its laptops from external suppliers instead of manufacturing them in their own facilities. how will this decision affect the firm? a. the firm will be protected against the principal-agent problem. b. the firm's administrative costs will be low because of necessary bureaucracy. c. the firm will have more flexibility in purchasing and comparing prices of goods and services. d. the firm will have high-powered incentives, such as hourly wages and salaries.