Question
Gasiorowksi Limited purchases some of its goods on credit and some for cash. On average, in any given month, the company expects 20% of its
Gasiorowksi Limited purchases some of its goods on credit and some for cash.
On average, in any given month, the company expects 20% of its purchases of goods to be paid for in cash.
This means, in any given month, 80% are paid with credit. Of the purchases made on credit 70% would be paid for in the next following month (1 month later), and 30% in the month after that (2 months later).
Purchases of goods are budgeted as follows for a four-month period:
September
October
November
December
91496
124499
109841
97557
Required:Calculate the cash paid in December for purchases of goods.
Round answer at the end to nearest pound ().
Select one:
a.100505
b.91391
c.133750
d.110902
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