The Bandeiras Corporation, a merchandising firm, has budgeted its activity for December according to the following information:Sales at $580,000, all for cash.Merchandise inventory on November 30 was $265,000.The cash balance at December 1 was $31,000.Selling and administrative expenses are budgeted at $99,000 for December and are paid in cash.Budgeted depreciation for December is $51,000.The planned merchandise inventory on December 31 is $295,000.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:
RECOMMENDED!!The Bandeiras Corporation, a merchandising firm
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