Bramble Corp. reported the following information for 2016: October November December Budgeted sales $500000 $440000 $530000 Budgeted purchases $320000 $256000 $288000 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. Bramble 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 Bramble receive during November? a.$485000 b.$220000 c.$470000 d.$440000
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Bramble Corp. reported the following information for 2016: October November December Budgeted sales...
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