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BusyBody Company expects its November sales to be 25% higher than its October sales of $200,000. Purchases were $140,000 in October and are expected to
BusyBody Company expects its November sales to be 25% higher than its October sales of $200,000. Purchases were $140,000 in October and are expected to be $160,000 in November. All sales are on credit and are collected as follows: 25% in the month of the sale and 70% in the following month. Purchases are paid 20% in the month of purchase and 80% in the following month. The cash balance on November 1 is $13, 800. The cash balance on November 30 will be
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