Melody Inc. had a November ending cash balance of $15,000. As well, it had sales of $10,000 in November, $20,000 in December, and projects sales of $25,000 for January, $30,000 for February, and $35,000 for March. The firm collects its receivables in the month after the sale. Given this information, calculate its cash balance at the end of March. Assume that every month has 30 days. $75,000 $80,000 $90,000 $100,000 $110,000

Melody Inc. had a November ending cash balance of $15,000. As well, it had sales of $10,000 in November, $20,000 in December, and projects sales of $25,000 for January, $30,000 for February, and $35,000 for March. The firm collects its receivables in the month after the sale. Given this information, calculate its cash balance at the end of March. Assume that every month has 30 days. $75,000 $80,000 $90,000 $100,000 $110,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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