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Category > Business & Finance Posted 02 Aug 2017 My Price 11.00

Managerial Accounting:

Managerial Accounting:

The following sales budget has been prepared:

Month\Cash Sales\Credit Sales
September\$100,000\$200,000
October\125,000\180,000
November\130,000\210,000
December\135,000\190,000

2. Sapphire Company has the following date:

Month\Budgeted Sales
January\$108,000
February\132,000
March\144,000
April\120,000

The gross profit rate is 40% and the inventory at the end of December was $19,000. Desired inventory levels are 30% of next month's sales at cost.

_______ is the expected total purchases budgeted for February.

Collections are 50% in the month of sale, 40% in the month following the sale, and 10% two months following the sale. No uncollectible accounts are anticipated. ________ is the expected balance of Accounts Receivable as of December 31

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Homework Helper
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Status NEW Posted 02 Aug 2017 07:08 PM My Price 11.00

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