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Cave Hardware's forecasted sales for April, May. June, and July are $230,000; $250,000, $170,000, and $230,000, respectively. Sales are 70% cash and 30% credit with
Cave Hardware's forecasted sales for April, May. June, and July are $230,000; $250,000, $170,000, and $230,000, respectively. Sales are 70% cash and 30% credit with all accounts receivables collected in the month following the sale. Cost of goods sold is 80% of sales and ending inventory is maintained at $50,000 plus 10% of the following month's cost of goods sold. All inventory purchases are paid 28% in the month of purchase and 72% in the following month. What is the balance of accounts payable on the June 30 budgeted balance sheet at Cave Hardware? O A. $122,400 OB. $88.128 OC. $101,376 OD, $140,800
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