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7-15. Which of the following budgets is prepared first? Cash receipts and disbursements budget Sales budget A. B. CSelling and administrative expense budget D. Budgeted

7-15. Which of the following budgets is prepared first? Cash receipts and disbursements budget Sales budget A. B. CSelling and administrative expense budget D. Budgeted balance sheet 8-16. Which of the following does not appear on the budgeted income statement? A. B. cost of goods sold sales selling and administrative expenses accounts receivable C. D

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