Question
A company's projected inventory purchase for the year are listed below. 35% of the purchase is paid in the month of purchase, 35% is paid
A company's projected inventory purchase for the year are listed below.
35% of the purchase is paid in the month of purchase,
35% is paid in the month following the purchase,
30% is paid in the second month following the purchase.
| Jan | $100,000 |
| Feb | 110,000 |
| Mar | 120,000 |
| Apr | 130,000 |
| May | 140,000 |
| Jun | 150,000 |
| Jul | 160,000 |
| Aug | 170,000 |
| Sep | 180,000 |
| Oct | 190,000 |
| Nov | 200,000 |
| Dec | 210,000 |
How much will be paid in the last six months of the year?
Step by Step Solution
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
