Homework Answers
Answer: B
November sale = October sale × (1 + rate of increase)
= 210,000 × (1 + 0.15)
= 210,000 × 1.15
= 241,500
Collection for sale = November sale × 30% + October sale × 65%
= 241,500 × 30% + 210,000 × 65%
= 72,450 + 136,500
= 208,950
Payment for purchases = November purchases × 30% + October purchases × 70%
= 190,000 × 30% + 100,000 × 70%
= 57,000 + 70,000
= 127,000
November 30 (ending) cash = November 1 (beginning) cash + Collection for sale – Payment for purchases
= 13,100 + 208,950 – 127,000
= 95,050
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