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Author Question: Cooper Company, a retailer of camping supplies has budgeted activity for January using the following ... (Read 60 times)

dekbert

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Cooper Company, a retailer of camping supplies has budgeted activity for January using the following data:

Cash sales$  25,000
Credit sales (60% collected in month of sale)380,000
Selling and administrative costs (including depreciation)50,000
Depreciation expense5,000
Merchandise Inventory, January 121,000
Merchandise Inventory, January 3120,000
Beginning cash balance3,000
Minimum cash balance required 2,500

Cost of goods sold is 55% of Cooper's selling price.
All purchases are paid in cash.
Selling and administrative costs are paid in month of purchase.

Required:

Prepare a cash budget for January. Omit the heading.


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Marked as best answer by dekbert on Feb 5, 2023

Tester

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dekbert

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Reply 2 on: Feb 5, 2023
Excellent


nothere

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

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