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  1. business
  2. accounting
  3. sales are budgeted at 320,257 for november, $326,6

Sales are budgeted at 320,257 for November, $326,682 for December, and $245,456 for January. ...

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Accounting

Sales are budgeted at 320,257 for November, $326,682 for December, and $245,456 for January.
Collections are expected to be 70% in the month of sale and 30% in the month following the sale.
The cost of goods sold is 75% of sales.
The company desires to have an ending merchandise inventory at the end of each month equal to 80% of the next month's cost of goods sold. Payment for merchandise is made in the month
following the purchase.
Other monthly expenses to be paid in cash are $22,400.
Monthly depreciation is $27,500.
Ignore taxes.
Calculate the difference between cash receipts and cash disbursements for December.
Hint: Range of answer is 45,0000 to 60,000
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