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Brarin Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow:
•Sales are budgeted at $420,000 for November, $440,000 for December, and $430,000 for January.
•Collections are expected to be 55% in the month of sale, 42% in the month following the sale, and 3% uncollectible.• The cost of goods sold is 70% of sales.
•The company would like to maintain ending merchandise inventories equal to 60% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase.• Other monthly expenses to be paid in cash are $23,900.• Monthly depreciation is $21,800.• Ignore taxes.
December cash disbursements for merchandise purchases would be:
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