Business, 27.07.2021 20:10 pandaman632

Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: Sales are budgeted at $260,000 for November, $240,000 for December, and $230,000 for January.
Collections are expected to be 55% in the month of sale and 45% in the month following the sale.
The cost of goods sold is 80% of sales.
The company would like to maintain ending merchandise inventories equal to 70% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase.
Other monthly expenses to be paid in cash are $23,200.
Monthly depreciation is $14,200.
Ignore taxes.

Balance Sheet
October 31
Assets
Cash$22,000
Accounts receivable 72,000
Merchandise inventory 145,600
Property, plant and equipment, net of $574,000 accumulated depreciation 1,096,000
Total assets$1,335,600

Liabilities and Stockholders' Equity
Accounts payable$256,000
Common stock 822,000
Retained earnings 257,600
Total liabilities and stockholders' equity$1,335,600

The difference between cash receipts and cash disbursements for December would be:

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