Managerial Accounting - Master Budgeting (Ch8) Flashcards ...
For the budget period ending December 31 of the current year, Corporation estimates its ending balances for cash as $4,000, accounts receivable as $16,000, finished goods inventory as $12,000, and raw materials inventory as $8,000. Invoices relating to raw materials in the amount of $14,000 are expected to be unpaid as of December 31.
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