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Compute the budgeted cash receipts for november

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Question - The Adams Corporation, a merchandising firm, has budgeted its activity for November according to the following information:

Sales at $484,000, all for cash.

Merchandise inventory on October 31 was $218,000.

The cash balance November 1 was $27,500.

Selling and administrative expenses are budgeted at $63,000 for November and are paid for in cash.

Budgeted depreciation for November is $29,800.

The planned merchandise inventory on November 30 is $250,000.

The cost of goods sold is 75% of the selling price.

All purchases are paid for in cash.

There is no interest expense or income tax expense.

Required - Compute the budgeted cash receipts for November?

a. $363,000

b. $484,000

c. $121,000

d. $509,000

Reference no: EM132533435

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