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Help needed with 9-26 #1 PROBLEM 9-26 Completing a Master Budget [LO 9-2, LO 9-4, LO 9-7, LO 9-8, LO 9-9, LO 9-10] The following
Help needed with 9-26 #1
PROBLEM 9-26 Completing a Master Budget [LO 9-2, LO 9-4, LO 9-7, LO 9-8, LO 9-9, LO 9-10] The following data relate to the operations of Picanuy Corporation, a wholesale distribute: of consumer goods: Current assets as of December 31: Cash36.000 Accounts receivableS36,000 Inventory S9.800 Buildings and equipment, net $110.885 Accounts payable332.550 Capital stoat $100.000 Retained earnings $30.135 a. The gross margin is 30% of sales. (In other words, cost of goods sold is 70% of sale, b. Actual and budgeted sales data are as follows Step by Step Solution
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