What is the problem. The question were sent as two different questions. I dont care which one is answered first. quot;Wolfe, Inc.

What is the problem. The question were sent as two different questions. I dont care which one is answered first.”Wolfe, Inc., began operations on January 1 of the current year with a $12,000 cash balance. Forty percent of sales are collected in the month of sale; 60% are collected in the month following sale. Similarly, 20% of purchases are paid in the month of purchase, and 80% are paid in the month following purchase. The following data apply to January and February: January = Sales 35,000 30,000Oerating Expenses 7,00055,000 40,000 Operating Expenses 9,000 If operating expenses are paid in the month incurred and include monthly depreciation charges of $2,500, determine the change in Wolfe’s cash balance during February.

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