The adams company a merchandising firm has budgeted its, Ask an Expert

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The Adams Company, a merchandising firm, has budgeted its activity for November according to the following information:

• Sales at $455,000, all for cash
• Merchandise inventory on October 31 was $188,000.
• The cash balance November 1 was $28,000.
• Selling and administrative expenses are budgeted at $59,100 for November and are paid for in cash.
• Budgeted depreciation for November is $24,600.
• The planned merchandise inventory on November 30 is $248,000.
• The cost of goods sold is 67% of the selling price.
• All purchases are paid for in cash.

What are the budgeted cash disbursements for November?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9983145

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