Barch and Holloway Merchandising Co sells Rutgers gear branded as the Scarlet Knights. The following...
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Barch and Holloway Merchandising Co sells Rutgers gear branded as the Scarlet Knights. The following budgeted data relate to their store selling Rutgers gear Sales are budgeted at $280,000 for November. $240,000 for December, and $190,000 for January . Collections are expected to be 52% in the month of sale, 45% in the month following the sale, and 3% uncollectible. The cost of goods sold is 75% of sales Payment for merchandise is made in the month following the purchase. Enng Merchandise Inventory should equal 12% of the following month's cost of goods sold. Other monthly expenses to be paid in cash are $23.400. Monthly depreciation is $19.000 related to office equipment Ignore the December Cah payments related to merchandise purchases would be 5175500 5195.000 580440 52310
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