Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations...
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Accounting
Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: - Sales are budgeted at $390,000 for November, $370,000 for December, and $360,000 for January, - Collections are expected to be 40% in the month of sale and 60% in the month following the sale. - The cost of goods sold is 80% of sales. - The company would like to maintain ending merchandise inventories equal to 70% 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 $24,500. - Monthly depreciation is $15,500. - Ignore taxes. The difference between cash receipts and cash disbursements for December would be: Multiple Choice $101,600 $56,700 $32.600 542.525
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