Solution-Compute the ending cash balance on September

Compute the ending cash balance on September

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Question - Worton Distributing expects its September sales to be 25% higher than its August sales of $153,000. Purchases were $103,000 in August and are expected to be $123,000 in September. All sales are on credit and are expected to be collected as follows: 40% in the month of the sale and 60% in the following month. Purchases are paid 20% in the month of purchase and 80% in the following month. The cash balance on September 1 is $13,000. Compute the ending cash balance on September 30?

Reference no: EM132767087

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Compute the ending cash balance on September

Reference no: EM132767087

Reference no: EM132767087

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