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Question 4:

3 TB MC Qu. 8-208 The Bandeiras Corporation, a merchandising The Bandeiras Corporation, a merchandising firm, has budgeted its activity for December according to the following information 10 points Sales at $500,000, all for cash. Merchandise inventory on November 30 was $225,000 The cash balance at December 1 was $23,000. Selling and administrative expenses are budgeted at $75,000 for December and are paid in cash. Budgeted depreciation for December is $35,000 The planned merchandise inventory on December 31 is $255,000. References The cost of goods sold is 70% of the sales price. All purchases are paid for in cash There is no interest expense or income tax expense. The budgeted cash receipts for December are: Multiple Choice $135,000 $365,000 $535,000 $500,000