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Dilly Farm Supply is located in a small town in the rural west Data regarding the store's operations follow Sales are budgeted at $309.000 for

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Dilly Farm Supply is located in a small town in the rural west Data regarding the store's operations follow Sales are budgeted at $309.000 for November $329,000 for December, and 5229.000 for January Collections are expected to be 70% in the month of sale and Join the more 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 30% of the next mon cost of goods sold Payment for merchandise is made in the month following the purchase Other monthly expenses to be paid in cash are $23.000 Monthly depreciation is $30,500 ignore taxes $ 35,00 36,500 185,00 Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment, net of $624,600 accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 1,231,900 $ 250,000 759,000 214,900 $ 1,231,900 The Merence between cos recepts and cash bursements for December would be The difference between cash receipts and cash disbursements for December would be $ 1,231,990 Multiple Choice $29.750 $56.250 o $20,250 O $70,250

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