211QuizPackageMonWedF2020 7. The Chal Corporation has the following budgeted sales date February March April Cash Sales $70,000 $10,000 $80,000 $70,000 Credit Sales $400.000 $500,000 $300,000 $320,000 None of the above. The answer is The regular pattern of collection of credit was so in the month of sale, so in the month following sales, and the remainder in the second month following the month of sale. There are no bad debts. The budgeted counts receivable balance on February 2 would be a. $340,000 . $370,000 $385.000 $385.000 None of the above. The wors Questions 8, 9 and 10 Refer to the following data in Much more information than is needed Bracken Corporation is alwholesterol gourmet food products Durgading the store's operations follows: Sales we budgeted at $30,000 for November, $340,000 for December, and for Collections are expected to be in the month of sale, 17 in the month following and uncollectible - The Cost of Goods sold is of sales The company would like to maintaining investory of the most cost of Goods Sold Payment for merchandises made in the month following purchase Other monthly expenses to be paid in care $21.00 Month Depreciation is $19.000 pore Taxes Bracken Corporation Balance Sheet As of October 31 Assets $ 2.000 Accounts Receivable of allowance for collectible accounts 76,000 Merchandise mentary 171.250 Property, plant and woment, net of $604.000 cumulated depreciation 1.170.000 Total $1,4420 and Stockholders fuity Account Pay $255.000 Common Stock $40.000 352.0 S 14.20 8. Expected cash collections in December are .. $40,000 72.000 b. $13,100 do 100 None of the above. The 3. The cou of December merchandise purchases would be $196,000 $224600 $213.400 4.10.200 . None of the above. The answers 18. December camera for merchandise purchases would be # $102,200 530230 b. $200,100 $211,100 .. on fire The awer