Brarin Corporation is a small wholesaler of gourmet food products. Data regardin

Question

Brarin Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow:

Assets Cash... $ 22,000 Accounts receivable (net of allowance for uncollectible accounts)... 77,000 Merchandise inventory... 190,400 Property, plant and equipment (net of $452,000 accumulated depreciation)... 934.000 Total assets... $1,223,400 Liabilities and Stockholders' Equity Accounts payable... $ 281,000 Common stock... 620,000 Retained earnings... 322.400 Total liabilities and stockholders' equity... $1,223,400

Explanation / Answer

Expected cash collections in December = 55% * December sales + 44%*November sales = 55%*360,000 + 44%*340,000 = $ 347,600. So the answer is choice D

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