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Answer the wrong one The owner of a plumbing supply company has requested a cash budget for June. After examining the records of the company,
Answer the wrong one
The owner of a plumbing supply company has requested a cash budget for June. After examining the records of the company, you find the following: a. Cash balance on June 1 is $1,486. b. Actual sales for April and May are as follows: customers in addition to what they owe. The remaining sales are uncollectible. d. Inventory purchases average 70% of a month's total sales. Of those purchases, 20% are paid for in the month of purchase. The remaining 80% are paid for in the following month. e. Salaries and wages total $11,750 per month, including a $4,500 salary paid to the owner. f. Rent is $4,200 per month. g. Taxes to be paid in June are $6,780. RequiredStep by Step Solution
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