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please let me know the answer to this Marigold, Inc. reports all its sales on credit, and pays operating costs in the month incurred. Amounts
please let me know the answer to this
Marigold, Inc. reports all its sales on credit, and pays operating costs in the month incurred. Amounts for 2022 are: March April May June July Budgeted sales $300400 $290100 $320400 $279300 $209500 Budgeted purchases $145000 $120100 $128600 $133000 $90600 . Customer amounts on account are collected 75% in the month of sale and 25% in the following month. . . Cost of goods sold is 70% of sales. Marigold purchases and pays for merchandise 30% in the month of acquisition and 70% in the following month. Operating expenses are: Salaries, $50900; Depreciation, $11800; Rent, $15800; and Utilities, $14000, Accounts payable is used only for inventory acquisitions, How much cash will Marigold receive during May from customers? $310125 $312825 O $240300 O $297675 Step by Step Solution
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