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Requirement 1: The Bandeiras Corporation, a merchandising firm, has budgeted its activity for December according to the following information: . Sales at $460,000, all

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Requirement 1: The Bandeiras Corporation, a merchandising firm, has budgeted its activity for December according to the following information: . Sales at $460,000, all for cash. . Merchandise inventory on November 30 was $205,000. . The cash balance at December 1 was $19,000. . Selling and administrative expenses are budgeted at $63,000 for December and are paid in cash. . Budgeted depreciation for December is $27,000. . The planned merchandise inventory on December 31 is $235,000. . 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: Requirement 2 Bries Corporation is preparing its cash budget for January. The budgeted beginning cash balance is $18,300. Budgeted cash receipts total $184,500 and budgeted cash disbursements total $188,600. The desired ending cash balance is $30,300. To attain its desired ending cash balance for January, the company should borrow

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