(Solved):Q: Serven Corporati…

Question:

Question

Serven Corporation has estimated its accrual-basis revenue and expenses for June 2017 and would like your help in estimating cash disbursements. Selected data from these estimated amounts are as follows:

Sales: $700,000

Gross Profit (based on sales): 30%

Increase in trade accounts recievable for the month: $20,000

Change in accounts payable during month: $0

Increase in inventory

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