Batista Company management wants to maintain a minimum monthly cash balance of $19,900. At the beginning of April, the cash balance is $21,100, expected cash receipts for April are $245,600, and cash disbursements are expected to be $256,200.
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Roger Company's Year 1 Balance Sheet has $150,000 in total assets and $100,000 in total liabilities. During the year, it paid off its $15,000 accounts payable using cash, and its accounts receivable increased by $4,000.
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Exercise 4-16 Sheffield Co. reports the following information for 2020: sales revenue $777,100, cost of goods sold $520,000, operating expenses $89,200, and an unrealized holding loss on available-for-sale debt securities for 2020 of $53,700.
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