Unformatted text preview: 60% in the month of sale. Payment for merchandise is made in the month following purchase. • The November beginning balance in the accounts receivable account is $77,000. • The November beginning balance in the accounts payable account is $320,000. Required: a. Prepare a Schedule of Expected Cash Collections for November and December. b. Prepare a Merchandise Purchases Budget for November and December....
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- Spring '09
- 10%, 5%, 40%, $390,000, $77,000