BusyBody Company expects its November sales to be 15% higher than its October sales of $230,000 .
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Question:
BusyBody Company expects its November sales to be 15% higher than its October sales of $230,000. Purchases were $150,000 in October and are expected to be $130,000 in November. All sales are on credit and are collected asfollows: 30% in the month of the sale and 65% in the following month. Purchases are paid 35% in the month of purchase and 65% in the following month. The cash balance on November 1 is $13,300. The cash balance on November 30 will be
A.
$72,550
B.
$99,150
C.
$242,150
D.
$ 85,850
Posted Date: