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Question - Enciso Corporation is preparing its cash budget for November. The budgeted beginning cash balance is $31,000. Budgeted cash receipts total $135,000 and budgeted cash disbursements total $141,000. The desired ending cash balance is $50,000. The company can borrow up to $100,000 at any time from a local bank, with interest not due until the following month.
Required: Prepare the company's cash budget for November in good form.
Mill billed and collected $3,000,000 from Drew in 1996. What amount should Mill recognize as gross profit for 1996
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