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Calder Water Company has budgeted direct materials inventory purchases as follows:October: $300,000November: $360,000December: $460,000Calder pays for 20% of their purchases during the month of purchase,
Calder Water Company has budgeted direct materials inventory purchases as follows:October: $300,000November: $360,000December: $460,000Calder pays for 20% of their purchases during the month of purchase, 70% during the month following the purchase, and the remaining 10% two months after the month of purchase. What is the budgeted accounts payable balance on December 31?
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