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Please fill out the charts for required A, B, C, D, E. Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data
Please fill out the charts for required A, B, C, D, E.
Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: - Sales are budgeted at $370,000 for November, $390,000 for December, and $380,000 for January. - Collections are expected to be 70% in the month of sale and 30% in the month following the sale. - The cost of goods sold is 68% of sales. - The company desires an ending merchandise inventory equal to 65% of the cost of goods sold in the following month. - Payment for merchandise is made in the month following the purchase. - Other monthly expenses to be paid in cash are $19,900. - Monthly depreciation is $19,700. - Ignore taxes. Prepare a Schedule of Expected Cash Collections for November and Decembe Prepare a Merchandise Purchases Budget for November and December. Prepare Cash Budgets for November and December. Prepare Budgeted Income Statements for November and December. Prepare a Budgeted Balance Sheet for the end of December Step by Step Solution
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