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 $