Business, 26.06.2020 15:01 vince022503

The Adams Corporation, a merchandising firm, has budgeted its activity for November according to the following information: • Sales at $612,000, all for cash. • Merchandise inventory on October 31 was $212,000. • The cash balance November 1 was $21,600. • Selling and administrative expenses are budgeted at $54,000 for November and are paid for in cash. • Budgeted depreciation for November is $28,400. • The planned merchandise inventory on November 30 is $245,200. • The cost of goods sold is 85% of the selling price. • All purchases are paid for in cash. • There is no interest expense or income tax expense. The budgeted cash disbursements for November are:

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The Adams Corporation, a merchandising firm, has budgeted its activity for November according to the...

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