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Miller Company expects its November sales to be 15% higher than its October sales of $230,000. All sales are on credit and are collected
Miller Company expects its November sales to be 15% higher than its October sales of $230,000. All sales are on credit and are collected as follows: 20% in the month of the sale and 75% in the following month. Purchases were $100,000 in October and are expected to be $110,000 in November. Purchases are paid 35% in the month of purchase and 65% in the following month. The cash balance on November 1 is $13,800. The cash balance on November 30 will be OA. $108,100 OB. $135,700 OC. $239,200 OD. $121,900
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