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Husky Company makes all purchases on account, subject to the following payment pattern: Paid in the month of purchase: 50% Paid in the first month
Husky Company makes all purchases on account, subject to the following payment pattern: Paid in the month of purchase: 50% Paid in the first month following purchase: 40% Paid in the second month following purchase: 10% If budgeted purchases for April, May, and June are $30,000, $45,000, and $2,000, respectively, what is the firm's budgeted accounts payable balance on June 30? A) $31,600 B) $14,500 C) $35,000 D) None of these E) $6,500
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