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Hayden Company expects its November sales to be 20% higher than its October sales of $160,000. All sales are on credit and are collected as
Hayden Company expects its November sales to be 20% higher than its October sales of $160,000. All sales are on credit and are collected as follows: 30% in the month of the sale and 65% in the following month. Purchases were $60,000 in October and are expected to be $120,000 in November. Purchases are paid 40% in the month of purchase and 60% in the following month. The cash balance on November 1 is $13,400. The cash balance on November 30 will be
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Group of answer choices
a. $ 91,000
b. $ 77,600
c. $ 64,200
d. $175,000
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