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Marigold Corp.reported the following information for 2022: Budgeted sales Budgeted purchases October $420000 $260000 November December $380000 $470000 $196000 $228000 All sales are on credit.
Marigold Corp.reported the following information for 2022: Budgeted sales Budgeted purchases October $420000 $260000 November December $380000 $470000 $196000 $228000 All sales are on credit. Customer amounts on account are collected 50% in the month of sale and 50% in the following month. Cost of goods sold is 35% of sales. Marigold purchases and pays for merchandise 60% in the month of acquisition and 40% in the following month. Accounts payable is used only for inventory acquisitions. How much cash will Marigold receive during November? O $380000 O $190000 $425000 O $400000
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