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Ahmed Company purchases all merchandise on credit. It recently budgeted the month - end accounts payable balances below. Cash payments on accounts payable during each

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Ahmed Company purchases all merchandise on credit. It recently budgeted the month-end accounts payable balances below. Cash payments on accounts payable during each month are expected to be June, $1,500,000; July, $1,350,000; and August, $1,300,000. Hint: Use the relation (Beg. Accounts Payable + Purchases on Credit - Payments on Accounts Payable = End. Accounts Payable) to solve for budgeted purchases.
\table[[Accounts payable,\table[[June 30],[$120,000
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