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Blossom Company, a retailer of camping supplies has budgeted activity for January using the January cash sales January credit sales Collections from December credit sales Selling and administrative costs (paid in month of purchase) Depreciation expense Merchandise Inventory, January 1 Merchandise Inventory, January 31 Cost of goods sold is 30% of Cooper's selling price All purchases are paid in cash Credit sales are collected 60% in the month of sale, 35% in the following month, and 5% is deemed uncollectible What is Blossom's budgeted cash disbursements for January? $ 53,000 375,000 155,000 52,000 28,000 197,000 217,000

Blossom Company, a retailer of camping supplies has budgeted activity for January using the January cash sales January credit sales Collections from December credit sales Selling and administrative costs (paid in month of purchase) Depreciation expense Merchandise Inventory, January 1 Merchandise Inventory, January 31 Cost of goods sold is 30% of Cooper's selling price All purchases are paid in cash Credit sales are collected 60% in the month of sale, 35% in the following month, and 5% is deemed uncollectible What is Blossom's budgeted cash disbursements for January? $ 53,000 375,000 155,000 52,000 28,000 197,000 217,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Blossom Company, a retailer of camping supplies has budgeted activity for January using the following data: January cash sales January credit sales Collections from December credit sales Selling and administrative costs (paid in month of purchase) Depreciation expense Merchandise Inventory, January 1 Merchandise Inventory, January 31 Cost of goods sold is 30% of Cooper's selling price All purchases are paid in cash Credit sales are collected 60% in the month of sale, 35% in the following month, and 5% is deemed uncollectible What is Blossom's budgeted cash disbursements for January? Total January disbursements $ $ 53,000 375,000 155,000 52,000 28,000 197,000 217,000
Transcribed Image Text:Blossom Company, a retailer of camping supplies has budgeted activity for January using the following data: January cash sales January credit sales Collections from December credit sales Selling and administrative costs (paid in month of purchase) Depreciation expense Merchandise Inventory, January 1 Merchandise Inventory, January 31 Cost of goods sold is 30% of Cooper's selling price All purchases are paid in cash Credit sales are collected 60% in the month of sale, 35% in the following month, and 5% is deemed uncollectible What is Blossom's budgeted cash disbursements for January? Total January disbursements $ $ 53,000 375,000 155,000 52,000 28,000 197,000 217,000
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