Questions from General Accounting

Q: Bruno Industries expects credit sales for January, February, and March

Bruno Industries expects credit sales for January, February, and March to be $200,000, $260,000, and $300,000, respectively. It is expected that 75% of the sales will be collected in the month of sale...

Q: Moore Wholesalers is preparing its merchandise purchases budget. Budgeted sales are

Moore Wholesalers is preparing its merchandise purchases budget. Budgeted sales are $400,000 for April and $480,000 for May. Cost of goods sold is expected to be 65% of sales. The company’s desired en...