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and accounts payable of $135,055. The budget is to be based on the following assumptions: SALES: PURCHASES: of the current month's sales. Actual and projected

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and accounts payable of $135,055. The budget is to be based on the following assumptions: SALES: PURCHASES: of the current month's sales. Actual and projected sales are as shown below: What are the budgeted merchandise purchases (in dollars) for May? What are the budgeted merchandise purchases (in dollars) for May? Multiple Choice $407,910. $388,000. $385,900. $367,200

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