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Brief Exercise 163 Jent Company reported the following information for 2016: October November December Budgeted sales $320,000 $340,000 $360,000 Budgeted purchases $120,000 $128,000 $144,000 All

Brief Exercise 163

Jent Company reported the following information for 2016:

October November December

Budgeted sales $320,000 $340,000 $360,000

Budgeted purchases $120,000 $128,000 $144,000

All sales are on credit.

Customer amounts on account are collected 40% in the month of sale and 60% in the following month.

Compute the amount of cash Jent will receive during November. Cash received during November $

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