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Please solve and highlight or underline answer The Adams Corporation, a merchandising firm, has...

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Accounting

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The Adams Corporation, a merchandising firm, has budgeted its activity for November according to the following information Sales at $510,000, all for cash. . Merchandise inventory on October 31 was $219,000 The cash balance November 1 was $18,700. Selling and administrative expenses are budgeted at $54,400 for November and are paid for in cash. .Budgeted depreciation for November is $29,100. .The planned merchandise inventory on November 30 is $255,600 . The cost of goods sold is 80% of the selling price All purchases are paid for in cash There is no interest expense or income tax expense The budgeted cash receipts for November are O $408,000 $510,000 $102.000 $535,000

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