Earth Green's monthly purchases are equal to 68 percent of the following month's sales. The accounts payable
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Question:
Earth Green's monthly purchases are equal to 68 percent of the following month's sales. The accounts payable period for purchases is 30 days. All other expenses are paid when incurred. Assume each month has 30 days and August sales are $18,500. The company has compiled the following information.
May | June | July | |
Sales | $14,800 | $16,100 | $17,500 |
Other expenses | 2,800 | 3,000 | 3,300 |
Interest and taxes | 650 | 720 | 880 |
What is the projected amount of disbursements for the month of July?
A. $13,910 B. $14,550 C. $15,220 D. $16,080 E. $16,760
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