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Novak Company reported the following information for 2019: October November December Budgeted sales $314,000 $346,000 $366,000 Budgeted purchases $120,000 $128,500 $143,500 All sales are on
Novak Company reported the following information for 2019:
| October | November | December | |||||
|---|---|---|---|---|---|---|---|
| Budgeted sales | $314,000 | $346,000 | $366,000 | ||||
| Budgeted purchases | $120,000 | $128,500 | $143,500 |
| All sales are on credit. | ||
| Customer amounts on account are collected 30% in the month of sale and 70% in the following month. |
Compute Novaks budgeted cash receipts for November.
| Budgeted cash receipts for November | $enter the budgeted cash receipts for November in dollars |
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Connect For Financial Accounting Information For Decisions
Authors: Author
10th Edition
1260386937, 9781260386936
