Question
JoAnn Manufacturing has projected the following sales for the coming year: Q1 Q2 Q3 Q4 Sales $ 54,300 $ 61,100 $ 69,600 $ 75,150 The
JoAnn Manufacturing has projected the following sales for the coming year:
| Q1 | Q2 | Q3 | Q4 | |||||||||
| Sales | $ | 54,300 | $ | 61,100 | $ | 69,600 | $ | 75,150 | ||||
The company places orders each quarter that are 25 percent of the following quarter's sales and has a 30-day payables period. What is the payment of accounts for the third quarter?
Multiple Choice
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$18,783.13
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$18,325.00
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$16,691.67
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$17,862.50
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$15,983.33
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Fundamentals of Investments Valuation and Management
Authors: Bradford D. Jordan, Thomas W. Miller
5th edition
978-007728329, 9780073382357, 0077283295, 73382353, 978-0077283292
