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MANGO Corporation expects its November sales to be 10% higher than its October sales of...

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Accounting

MANGO Corporation expects its November sales to be 10% higher than its October sales of $160,000. Purchases were $120,000 in October and are expected to be $170,000 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 40% in the month of purchase and 60% in the following month. The cash balance on November 1 is $13,800. The cash balance on November 30 will be $30,600. $170,600. $16,800. $3,000.
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MANGO Corporation expects its November sales to be 10% higher than its October sales of $160,000. Purchases were $120,000 in October and are expected to be $170,000 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 40% in the month of purchase and 60% in the following month. The cash balance on November 1 is $13,800. The cash balance on November 30 will be $30,600. $170,600. $16,800 $3,000

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