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BusyBody Company expects its November sales to be 25% higher than its October sales of $240,000. Purchases were $100,000 in October and are expected to
BusyBody Company expects its November sales to be 25% higher than its October sales of $240,000. Purchases were $100,000 in October and are expected to be $100,000 in November. All sales are on credit and are collected as follows: 35% in the month of the sale and 60% 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 $13,500. The cash balance on November 30 will be
A.
$262,500
B.
$162,500
C.
$135,500
D.
$149,000
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