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    KG1029's Avatar
    KG1029 Posts: 9, Reputation: 1
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    #21

    Nov 17, 2011, 12:22 AM
    I came up with 352,500
    Just Looking's Avatar
    Just Looking Posts: 1,610, Reputation: 480
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    #22

    Nov 17, 2011, 12:24 AM
    Yes, that's right. Do you want to do the same for January's collections and I can check it, or do you think you understand now?
    KG1029's Avatar
    KG1029 Posts: 9, Reputation: 1
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    #23

    Nov 17, 2011, 12:26 AM
    I think I got everything down, thank you very much!
    Just Looking's Avatar
    Just Looking Posts: 1,610, Reputation: 480
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    #24

    Nov 17, 2011, 12:28 AM
    You're welcome. :)
    KG1029's Avatar
    KG1029 Posts: 9, Reputation: 1
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    #25

    Nov 17, 2011, 02:27 AM
    One more problem, it is the last part of this question which is the budgeted balance sheet for Dec 31. I got accounts receivable and inventory down, but I need help with cash, property/plant/equipment, accounts payable, common stock, and retained earnings. I'm lost trying to figure out how to get these.
    Just Looking's Avatar
    Just Looking Posts: 1,610, Reputation: 480
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    #26

    Nov 17, 2011, 07:30 AM
    I don't know if I have the full question as the original poster had a specific problem. I would suggest you use T-accounts to figure out your balances for the BS.
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