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D Question 6 7.5 pts Assume the following budgeted information for a Saints Football merchandising company: . Budgeted sales of footballs (all on credit) for
D Question 6 7.5 pts Assume the following budgeted information for a Saints Football merchandising company: . Budgeted sales of footballs (all on credit) for November, December, and January are $250,000, $220,000, and $200,000, respectively. . Cash collections related to credit sales are expected to be 75% in the month of sale, 25% in the month following the sale. . The cost of goods sold is 65% of sales. . Each month's ending inventory equals 20% of next month's cost of goods sold. . 40% of each month's merchandise purchases are paid in the current month and the remainder is paid in the following month. . Monthly selling and administrative expenses that are paid in cash in the month incurred total $20,500. . Monthly depreciation expense is $20,000. The expected cash disbursements for merchandise purchases in December are: O $149,540 O $151,320 O $232,800 O $212,800
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