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What the budgeted cash receipts for december are

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Reference no: EM132610656

The Bandeiras Corporation, a merchandising firm, has budgeted its activity for December according to the following information:

  1. Sales at $550,000, all for cash.
  2. Merchandise inventory on November 30 was $250,000.
  3. The cash balance at December 1 was $28,000.
  4. Selling and administrative expenses are budgeted at $90,000 for December and are paid in cash.
  5. Budgeted depreciation for December is $45,000.
  6. The planned merchandise inventory on December 31 is $280,000.
  7. The cost of goods sold is 70% of the sales price.
  8. All purchases are paid for in cash.
  9. There is no interest expense or income tax expense.

Question 1: The budgeted cash receipts for December are:

A. $595,500

B. $415,000

C. $135,000

D. $550,000

Reference no: EM132610656

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