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Tamiku [17]
3 years ago
11

Waterway Industries reported the following information for 2016: October November December Budgeted sales $490000 $370000 $47000

0 Budgeted purchases $340000 $186000 $218000 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?
Business
1 answer:
Pavlova-9 [17]3 years ago
5 0

Answer:

$430,000

Explanation:

Cash Waterway will receive during November = (Budgeted Sales October*50%) + (Budgeted Sales November*50%)

Cash Waterway will receive during November = ($490,000*50%) +($370,000*50%)

Cash Waterway will receive during November = $245,000 + $185,000

Cash Waterway will receive during November = $430,000

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