{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-26T20:00:41-04:00", "answer_date": "2024-05-26 20:00:41", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1756793", "url": "\/study-help\/questions\/benson-company-which-sells-electric-razors-had-320000-of-cost-1756793", "question_creation_date_js": "2024-05-26T20:00:41-04:00", "question_creation_date": "May 26, 2024 08:00 PM", "meta_title": "[Solved] Benson Company, which sells electric razo | SolutionInn", "meta_description": "Answer of - Benson Company, which sells electric razors, had $320,000 of cost of goods sold during the month of June. The company | SolutionInn", "meta_keywords": "benson,company,sells,electric,razors,$320,000,cost,goods,sold,month,june,projects", "question_title_h1": " Benson Company, which sells electric razors, had $320,000 of cost of goods sold during the month of June. The company projects a 7 percent", "question_title": " Benson Company, which sells electric razors, had $320,000 of cost of", "question_title_for_js_snippet": "Benson Company, which sells electric razors, had $320,000 of cost of goods sold during the month of June The company projects a 7 percent increase in cost of goods sold during July The inventory balance as of June 30 is $38,000, and the desired ending inventory balance for July is $39,000 Benson pays cash to settle 75 percent of its purchases on account during the month of purchase and pays the remaining 25 percent in the month following the purchase The accounts payable balance as of June 30 was $31,000 Required a Determine the amount of purchases budgeted for July b Determine the amount of cash payments budgeted for inventory purchases in July a Budgeted purchases b Cash payments", "question_description": "\"image", "transcribed_text": "Benson Company, which sells electric razors, had $320,000 of cost of goods sold during the month of June. The company projects a 7 percent increase in cost of goods sold during July. The inventory balance as of June 30 is $38,000, and the desired ending inventory balance for July is $39,000. Benson pays cash to settle 75 percent of its purchases on account during the month of purchase and pays the remaining 25 percent in the month following the purchase. The accounts payable balance as of June 30 was $31,000. Required a. Determine the amount of purchases budgeted for July. b. Determine the amount of cash payments budgeted for inventory purchases in July. a. Budgeted purchases b. Cash payments", "related_book": { "title": "Managerial Accounting", "isbn": "978-1259176494, 1259176495, 978-1259347641, 1259347648, 978-0078025600", "edition": "5th edition", "authors": "John Wild, Ken Shaw", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/1126.jpg", "uri": "\/textbooks\/managerial-accounting-5th-edition-1126", "see_more_uri": "" }, "free_related_book": { "isbn": "B09HN1L246", "uri": "\/textbooks\/cobra-king-radspeed-combo-iron-set-5h-6-pw-gw-graphite-shafts-b09hn1l246-128825", "name": "Cobra King Radspeed Combo Iron Set 5h 6 Pw Gw Graphite Shafts", "edition": "" }, "question_posted": "2024-05-26 20:00:41", "see_more_questions_link": "\/study-help\/questions\/business-banking-2021-September-12", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/precalculus-1st\/for-the-following-exercises-find-the-inverse-of-the-functions-899376", "description": "For the following exercises, find the inverse of the functions. f(x): || 3 x-4", "stars": 3 }, { "url": "\/ashman-motors-is-currently-an-allequity-firm-it-has-two", "description": "Ashman Motors is currently an all-equity firm. 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