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Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow Sales are budgeted at $350,000 for November, $330,000 for

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Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow Sales are budgeted at $350,000 for November, $330,000 for December, and $320,000 for January Collections are expected to be 45% in the month of sale and 55% in the month following the sale. The cost of goods sold is 75% of sales. The company would like to maintain ending merchandise inventories equal to 80% of the next month's merchandise is made in the month following the purchase. Other monthly expenses to be paid in cash are $24,100. Monthly depreciation is $15,100. Ignore taxes $ Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment, net of $572,100 accumulated depreciation Total assets 20,100 70, 100 210,000 1,094,100 $1,394,300 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 254,100 820,100 320,100 $1,394,300 December cash disbursements for merchandise purchases would be: December cash disbursements for merchandise purchases would be: Multiple Choice 0 $250,500 $247,500 $241,500 O $192,000

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