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bernie2981 bernie2981
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8 years ago
Romona Company expects its November sales to be 20% higher than its October sales of $165,000. All sales are on credit and are collected as follows: 35% in the month of the sale and 60% in the following month. Purchases were $110,000 in October and are expected to be $140,000 in November. Purchases are paid 40% in the month of purchase and 60% in the following month. The cash balance on November 1 is $13,500. The cash balance on November 30 will be
A) $32,800.
B) $2,050.
C) $46,300.
D) $59,800.
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Managerial Accounting

Managerial Accounting


Edition: 4th
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nucleinuclei
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