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The Adams Company, a merchandising firm, has budgeted its activity for November according to the following information: Sales at $455,000, all for cash Merchandise inventory
The Adams Company, a merchandising firm, has budgeted its activity for November according to the following information: Sales at $455,000, all for cash Merchandise inventory on October 31 was $188,000. The cash balance November 1 was $28,000. Selling and administrative expenses are budgeted at $59,100 for November and are paid for in cash. Budgeted depreciation for November is $24,600. The planned merchandise inventory on November 30 is $248,000. The cost of goods sold is 67% of the selling price. All purchases are paid for in cash. What are the budgeted cash disbursements for November
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