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Bramble, Inc. reports all its sales on credit, and pays operating costs in the month incurred. Amounts for 2022 are: March April May June
Bramble, Inc. reports all its sales on credit, and pays operating costs in the month incurred. Amounts for 2022 are: March April May June July Budgeted sales $300900 $289400 $320000 $280400 $209300 Budgeted purchases $144800 $119100 $128000 $132600 $89800 . Customer amounts on account are collected 80% in the month of sale and 20% in the following month. Cost of goods sold is 60% of sales. Bramble purchases and pays for merchandise 40% in the month of acquisition and 60% in the following month. Operating expenses are: Salaries, $49000; Depreciation, $12000; Rent. $14000; and Utilities, $13700. Accounts payable is used only for inventory acquisitions. How much cash will Bramble receive during May from customers? O $312080 O $313880 $256000 $295520
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