BusyBody Company expects its November sales to be 20% higher than its October sales of...
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BusyBody Company expects its November sales to be 20% higher than its October sales of $ 160,000. Purchases were $ 70,000
in October and are expected to be $ 130,000 in November. All sales are on credit and are collected as follows: 30% in the month of the sale and
65% in the following month. Purchases are paid 35% in the month of purchase and 65% in the following month. The cash balance on November 1 is $ 13,900.
The cash balance on November 30 will be
A.
$ 56 ,700
B.
$ 175,500
C.
$ 70,600
D.
$ 84,500
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