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Compute the cash balance on november

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Question - Courtney Company expects its November sales to be 25% higher than its October sales of $240,000. Purchases were $100,000 in October and are expected to be $100,000 in November. All sales are on credit and are collected as follows: 35% in the month of the sale and 60% in the following month. Purchases are paid 35% in the month of purchase and 65% in the following month. The cash balance on November 1 is $13,500. Compute the cash balance on November 30?

a. $262,500

b. $135,500

c. $162,500

d. $149,000

Reference no: EM132524597

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