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Correy Inc All Sales Are on Credit

question 87

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Correy Inc.reported the following information for 2022:  October  November  December  Budgeted sales $460,000$440,000$540,000 Budgeted purchases $240,000$256,000$288,000\begin{array}{lll}&\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?


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Items that are commonly considered to be lacking in good taste, refinement, or moral decency.

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Visual or written content that is designed to stimulate erotic feelings rather than emotional or intellectual responses.

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