Question
3. Jeremiah pays for 50% of its purchases in the month of purchase, 30% in the month after and 20% in the month after that.
3. Jeremiah pays for 50% of its purchases in the month of purchase, 30% in the month after and 20% in the month after that. For a $100,000 purchase in January, what is the accounts payable with respect to this purchase at the end of February?
| A. $50,000 |
| B. $30,000 |
| C. $20,000 |
| D. none of the above My answer: C: $20,000.00 |
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Modern Auditing
Authors: Graham Cosserat
1st Edition
0471810584, 9780471810582
