The Adams Company, a merchandising firm, has budgeted its activity for November according to the following information:
– Sales were at $450,000, all for cash.
– Merchandise inventory on October 31 was $200,000.
– The cash balance on November 1 was $18,000.
– Selling and administrative expenses are budgeted at $60,000 for November and are paid for in cash.
– Budgeted depreciation for November is $25,000.
– The planned merchandise inventory on November 30 is $230,000.
– The cost of goods sold is 70% of the selling price.
– All purchases are paid for in cash.
The budgeted cash disbursements for November are