The Adams Company, a merchandising firm, has budgeted its activity for November according to the following information:• Sales at $450,000, all for cash.• Merchandise inventory on October 31 was...

The Adams Company, a merchandising firm, has budgeted its activity for November according to the following information:• Sales at $450,000, all for cash.• Merchandise inventory on October 31 was $200,000.• The cash balance November 1 was $18,000.• Selling and administrative expenses are budgeted at $60,000 for November and are paid for in cash.• Budgeted depreciation for November is $25,000.• The planned merchandise inventory on November 30 is $230,000.• The cost of goods sold is 70% of the selling price.• All purchases are paid for in cash.The budgeted cash receipts for November are: *