Question
Cedar Co. has forecast purchases to be $336,000 in June, $381,000 in July, $318,000 in August, and $275,000 in September. Purchases average 30% paid in
Cedar Co. has forecast purchases to be $336,000 in June, $381,000 in July, $318,000 in August, and $275,000 in September. Purchases average 30% paid in cash, 70% on credit. Credit purchases are paid 60% in the month of purchase, 25% during the month following, and 15% the second month following the purchase. Cash disbursements in September would be:
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Payroll Accounting 20
Authors: Bernard J. Bieg, Judith A. Toland
26th Edition
1337268798, 9781337268790
