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( Show all steps, please and thank you!) On November 1, the Trojans Company has a cash balance of $10,000. Budgeted selling and administrative expense
( Show all steps, please and thank you!)
On November 1, the Trojans Company has a cash balance of $10,000. Budgeted selling and administrative expense for November totals $40,000, of which $20,000 is depreciation expense on office equipment. During November, Trojans plans to purchase a $25,000 truck for cash and to borrow $35,000 from a local bank. Cash receipts from sales are expected to be $200,000. Total cash disbursements for merchandise are expected to be $180,000. What is the amount of expected cash balance at November 30?
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