Question
Riverbed Company reported the following information for 2019: October November December Budgeted sales $314,000 $348,000 $374,000 Budgeted purchases $120,000 $129,500 $142,000 All sales are on
Riverbed Company reported the following information for 2019:
| October | November | December | |||||
|---|---|---|---|---|---|---|---|
| Budgeted sales | $314,000 | $348,000 | $374,000 | ||||
| Budgeted purchases | $120,000 | $129,500 | $142,000 |
| All sales are on credit. | ||
| Customer amounts on account are collected 30% in the month of sale and 70% in the following month. |
Compute Riverbeds budgeted cash receipts for November.
| Budgeted cash receipts for November | $enter the budgeted cash receipts for November in dollars |
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Financial Accounting
Authors: Libby, Short
6th Edition
978-0071284714, 9780077300333, 71284710, 77300335, 978-0073526881
