Dilly Farm Supply is located in a small town in the rural westData regarding the stores operations follow Sales are budgeted at $294,000 for November, $314,000 for December, and $214.000 for January Collections are expected to be 70% in the month of sale and 30% in the month following the sale. The cost of goods sold is 75% of sales The company desires to have an ending merchandise inventory at the end of each month equal to 8 purchase. Other monthly expenses to be paid in cash are $ 21.500. Monthly depreciation is $23 . Ignore taxes.

di WesL U S regarding the store's operations follow Sales are budgeted at $294.000 for November, $314,000 for December, and $214,000 for January . Collections are expected to be 70% in the month of sale and 30% in the month following the sale . The cost of goods sold is 75% of sales. The company desires to have an ending merchandise inventory at the end of each month equal to 80% of the next month's cost of goods sold Payment for merchandse is made in remont purchase . Other monthly expenses to be paid in cash are $21500 Monthly depreciation is $23,000. Ignore taxes. Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment, net of $624.ee accumulated depreciation Total assets $ 27,000 79,000 176,400 1,000,000 $1,290,400 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 240,000 744,000 306,400 $1,290, 4ee Accounts payable at the end of December would be Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment, net of $624,000 depreciation Total assets $ 27,000 79,000 176,400 1,088,000 $1,290,400 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 240,000 744,000 306,400 $1,290,400 Accounts payable at the end of December would be: Multiple Choice O $235,500 O $175,500 0 O $47.100 0 S17R400 C Dilly Farm Supply is located in a small town in the rural west. Data regarding the store's operations follow. Sales are budgeted at $294,000 for November, $314,000 for December, and $214,000 for January. Collections are expected to be 70% in the month of sale and 30% in the month following the sale. The cost of goods sold is 75% of sales. The company desires to have an ending merchandise inventory at the end of each month equal to 80% of purchase. Other monthly expenses to be paid in cash are $21,500. Monthly depreciation is $23,000. Ignore taxes Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment, net of $624,000 accumulated depreciation Total assets $ 27,000 79,000 176,400 1,008,000 $1,290,400 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 240,000 744,000 306,400 $1,290,400 Accounts payable at the end of December would be: Help Seve Exit store's operations follow and $214,000 for January month following the sale. nd of each month equal to 80% of the next month's cost of goods sold. Payment for merchandise is made in the month following the $ 27,000 79,000 176,400 1,000,000 $1,290,400 $ 240,000 744,80e 306,400 $1,290,400 Next > 7 of 20