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Don's Game Store sells computer and other electronic games. The store has budgeted sales for January as indicated in the following table. The company expects an 8 percent increase in sales for the month of February and a 5 percent increase for March. Sales January February March Cash sales $20,000 ? ? Sales on account 40,000 ? ? Total budgeted sales 60,000 ? ? Required: Complete the sales budget by filling in the missing amounts.
a. debits credits cash 48000 accounts rec. 224000 inventory 60000 buildings and equ. 370000 accounts payable 93000
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Identify two ways to finance the remaining $20,000 you will need, so you can pay all of the liabilities when they are due.
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