Compute the amount of cash.

7 Jent Company reported the following information for 2019:

October November December

Budgeted sales $320,000 $340,000 $360,000

Budgeted purchases $120,000 $128,000 $144,000

· All sales are on credit

· Customer amounts on account are collected 40% in the month of sale and 60% in the following month

Instructions

Compute the amount of cash Jent will receive during November

Solution:

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