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Assume that a company prepared the following sales budget: The following information is also available...

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Accounting

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Assume that a company prepared the following sales budget: The following information is also available - Desired ending inventory is $20.000 plus 70% of the next montr's cost of goods sold - Cost of goods sold averages 60% of salesi - Purchases are paid 30% in the current month and 70% in the next month - Budgeted sales each month are 70% credit and 30% cash - 40% of credit customers pay in the curtent month, 50% pay in the first month after the sale, and 10% pay in the second month after the sale, What are the expected cash collections from customers for November? - Cost of goodis sold averages busc of sales - Purchases are poid 30% in the current month and 70% in the next month - Budgeted sales each month are 70% creditand 30% cash. - 40% of credit customers pay in the current month. 50% pay in the firat month after the sale, and 10% pay in the second month after the sale: What are the expected cash collections from customers for November? Multiple Choice 5648,500 5899.000 $1,104,500 $768,500

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