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Melody Inc. had a November ending cash balance of $7,000 . It had sales of $10,000 in November, $25,000 sales in December, and projects sales
Melody Inc. had a November ending cash balance of | $7,000 | . It had sales of | $10,000 | in November, | |||||||
$25,000 | sales in December, and projects sales of | $20,000 | for January, | $20,000 | for February and | $30,000 | for March. | ||||
The firm collects its receivables in the month after the sale. Given this information and ignoring disbursements, | |||||||||||
Required: calculate Melodys cash balance at the end of March. |
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