Business, 22.06.2019 01:30
The gomez company, a merchandising firm, has budgeted its activity for december according to the following information: β’ sales at $500,000, all for cash. β’ merchandise inventory on november 30 was $250,000. β’ the cash balance at december 1 was $20,000. β’ selling and administrative expenses are budgeted at $50,000 for december and are paid for in cash. β’ budgeted depreciation for december is $30,000. β’ the planned merchandise inventory on december 31 is $260,000. β’ the cost of goods sold represents 75% of the selling price. β’ all purchases are paid for in cash. the budgeted cash disbursements for december are:
Answers: 3