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Home Q & A Board Other Fields Homework Help Business Accounting
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Lola1 Lola1
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A year ago
Copper, Inc.'s intern was preparing the cash budget for May. Copper's beginning inventory was $12,600 and its ending inventory was $12,000. If cost of goods sold is 55% of sales, what was the amount of budgeted monthly sales (if necessary, round your answer to the nearest dollar)?

Beginning cash balance$     1,800
Cash receipts 151,800
Total cash available to spend153,600
Less disbursements:​
  Merchandise purchases133,050
  Selling and administrative expenses  27,000
Total cash disbursements160,050
Cash excess (needed)(6,450)
Borrowing  7,950
Ending cash balance$  1,500


▸ $73,508

▸ $240,818

▸ $350,000

▸ $243,000
Textbook 
Managerial Accounting

Managerial Accounting


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inhibitor128inhibitor128
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A year ago
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Lola1 Author
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A year ago
Just got PERFECT on my quiz
linlinlin
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Thank you, thank you, thank you!
Natalie Price
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2 hours ago
You make an excellent tutor!
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