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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question
What is the budgeted cash receipts value from customers during the year?

Transcribed Image Text:The following extracts from the DEF Co budget are available.
Year ended 30 June 2019
Sales
$1,135,600
Purchases
751,700
Closing inventory
113,500
Opening inventory
112,250
Opening receivables
163,525
Opening payables
113,550
DEF Co expects that receivables will increase by 12% and that payables will increase by
15% by the end of the year.
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