Leaning Tower of Pizza, Inc. is preparing its master budget for its first quarter of...
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Accounting
Leaning Tower of Pizza, Inc. is preparing its master budget for its first quarter of business. It expects to sell 4,000 pizzas at $9 per pizza per month. It expects to collect 90% of the sales in the month of the sale and 10% in the following month. It will maintain an ending inventory balance of 200 pizzas at a cost of $1 each. Calculate the amount of budgeted sales revenue for its first quarter.
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