Waterway Industries reported the following information for 2016: October November December Budgeted sales $450000 $410000 $500000 Budgeted purchases $270000 $226000 $258000 • All sales are on credit....


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Waterway Industries reported the following information for 2016:<br>October<br>November<br>December<br>Budgeted sales<br>$450000<br>$410000<br>$500000<br>Budgeted purchases<br>$270000<br>$226000<br>$258000<br>• All sales are on credit.<br>• Customer amounts on account are collected 50% in the month of sale and 50% in the following month.<br>• Cost of goods sold is 35% of sales.<br>• Waterway purchases and pays for merchandise 60% in the month of acquisition and 40% in the following month.<br>• Accounts payable is used only for inventory acquisitions.<br>How much cash will Waterway receive during November?<br>$205000<br>$410000<br>$455000<br>O $430000<br>оо<br>

Extracted text: Waterway Industries reported the following information for 2016: October November December Budgeted sales $450000 $410000 $500000 Budgeted purchases $270000 $226000 $258000 • 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 35% of sales. • Waterway purchases and pays for merchandise 60% in the month of acquisition and 40% in the following month. • Accounts payable is used only for inventory acquisitions. How much cash will Waterway receive during November? $205000 $410000 $455000 O $430000 оо

Jun 10, 2022
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