Brarin Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations...
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Accounting
Brarin Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow:
Sales are budgeted at $ for November, $ for December, and $ for January.
Collections are expected to be in the month of sale, in the month following the sale, and uncollectible.
The cost of goods sold is of sales.
The company would like to maintain ending merchandise inventories equal to 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 $
Monthly depreciation is $
Ignore taxes.
Expected cash collections in December are:
Multiple Choice
$
$
$
$
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