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ALSO: what is the cash balance at the end of January and February FC has sales of $8,000 in November, $14,000 in December, and projects
ALSO: what is the cash balance at the end of January and February
FC has sales of $8,000 in November, $14,000 in December, and projects sales of $10,000 for January, $12,000 for February, $8,000 for March, and $6,000 for April. The firms COGS every month is equal to 70% of the next month's sales. The firm collects its receivables in 50 days and pays its payables in 40 days. The firm begins January 1 with $10,000 in cash. All sales and purchases are on credit. What is FC cash balance at the end of February? 16,799 20,267 19,333 17,333Step by Step Solution
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