\table[[Required 1A,Required 1B,Required 1C,Required 1D,Required 1 E,Required 2A,Required 2B,Required 2C,Required 2D]] Required 2...

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Accounting

\table[[Required 1A,Required 1B,Required 1C,Required 1D,Required 1 E,Required 2A,Required 2B,Required 2C,Required 2D]]
Required 2 E
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Prepare a budgeted balance sheet at October 31. Assume that 50% of a month's credit sales are collected in the month the sales are made and the remaining 50% is collected in the following month, (2) the ending merchandise inventory is always 10% of the following month's cost of goods sold, and (3)20% of all purchases are paid for in the month of purchase and 80% are paid for in the following month.
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\table[[Wheeling Company],[Balance Sheet],[October 31],[Assets],[Cash],[Accounts receivable],[Inventory],[Buildings and equipment, net 212,000],[,,],[,,],[Total assets,$,212,000],[Liabilities and Stockholders' Equity],[Accounts payable,$,69,480],[Common stock,,216,000],[Retained earnings,,158,400],[],[],[Total liabilities and stockholders' equity,$,443,880]]
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