T RESOURCES al-Fall 2020 5 Question 3 Pharoah Company reported the following information for 2020: September October November December January Budgeted sales $239900 $309800 $290700 $359700 $200600 Budgeted purchases $90100 $120300 $128100 $143400 $88400 All sales are on credit. Customer amounts on account are collected 50% in the month of sale and 50% in the following month. Cost of goods sold is 40% of sales. Pharoah purchases and pays for merchandise 65% in the month of acquisition and 35% in the following month. Accounts payable is used only for inventory acquisitions. How much cash will Pharoah receive during November? 5145350 Results by Study 5325200 $300250 5290700 Question Attempts: 0 of 1 used SAVER LA Type here to search RI Wiley PLUS - Google WhatsApp