Question
Cat Co. forecasts merchandise purchases of $11,600 in January, $11,800 in February, and $15,400 in March; 40% of purchases are paid in the month of
Cat Co. forecasts merchandise purchases of $11,600 in January, $11,800 in February, and $15,400 in March; 40% of purchases are paid in the month of purchase and 60% are paid in the following month. At December 31 of the prior year, the balance of Accounts Payable (for December purchases) is $8,000.
What is the cash disbursements for merchandise for the month of February?
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Accounting Information Systems And Internal Control
Authors: Eddy Vaassen, Roger Meuwissen, Caren Schelleman
2nd Edition
0470753951, 9780470753958
