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Noskey Corporation is a merchandising firm. Information pertaining to the company's sales revenue is presented...

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Accounting

Noskey Corporation is a merchandising firm. Information pertaining to the company's sales revenue is presented in the following table. July (Budget) $100,000 360,000 $460,000 June August (Budget) $ 60,000 (Actual) $ 80,000 240,000 $320,000 Cash sales Credit sa Management estimates that 5% of credit sales are uncollectible. Of the credit sales that are collectible, 60% are collected in the month of sale and the remainder in the month following the sale. Purchases of inventory are equal to next month's cost of goods sold. The cost of goods sold in a month is 70% of that months total sales. All purchases of inventory are on account;25% are paid in the month of purchase, and the remainder is paid in

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