Cooper company a retailer camping supplies has budgeted activity for January using the following data

Return to Blackboard Managerial Accounting, 3e ES Testbank Exercise 3 Cooper Company, a retailer of camping supplies has budgeted activity for January using the following data: Cash sales Credit sales (61% collected in month of sale) Selling and administrative costs (including depreciation) Depreciation expense Merchandise Inventory, January 1 Merchandise Inventory, January 31 Beginning cash balance Minimum cash balance required Cost of goods sold is 54% of Cooper's selling price All purchases are paid in cash Selling and administrative costs are paid in month of purchase $27,100 395,600 52,530 5,270 22,040 21,380 3,200 2,800 Prepare a cash budget for January (Enter cash needed using either a negative sign preceding the numb dy Click if you would like to show work for this question: Open nowyOrk