Correy Inc •All Sales Are on Credit

question 64

Multiple Choice

Correy Inc.reported the following information for 2016: $\begin{array}{lr}&\text { October }&\text { November }&\text { December }\\\text { Budgeted sales } & \$ 460,000 & \$ 440,000 & \$ 540,000 \\\text { Budgeted purchases } & \$ 240,000 & \$ 256,000 & \$ 288,000\end{array}$ •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.
•Correy 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 Correy receive during November?

• A)$220,000
• B)$490,000
• C)$450,000
• D)$440,000

Recognize the strategic and financial benefits of academic and corporate mergers.

Comprehend the extensive planning involved in successful merger integration.

Identify the challenges and strategies in merging workplace cultures.

Describe the various motives behind company mergers.

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Definitions:

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