value 2.00 points The Adams Corporation, a merchandising firm, has budgeted its

Question

value 2.00 points The Adams Corporation, a merchandising firm, has budgeted its activity for November according to the following Information . Sales at $590,000, all for cash. . Merchandise Inventory on October 31 was $270,000. . The cash balance November 1 was $32.000 . Selling and administrative expenses are budgeted at $102,000 for November and are paid for in cash. . Budgeted depreciation for November is $53,000. . The planned merchandise inventory on November 30 is $300,000 The cost of goods sold is 70% of the selling price All purchases are pald for In cash. . There is no Interest expense or income tax expense. The budgeted cash receipts for November are O $455,000 O $590,000 O $135.000 O $643,000o

Explanation / Answer

Answer:- The budgeted cash receipts for November are $590000 (ie- Cash Sales amount ).

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