Question
JoAnn Manufacturing has projected the following sales for the coming year: Q1 Q2 Q3 Q4 Sales $ 53,775 $ 60,225 $ 69,075 $ 74,450 The
JoAnn Manufacturing has projected the following sales for the coming year:
| Q1 | Q2 | Q3 | Q4 | |||||||||
| Sales | $ | 53,775 | $ | 60,225 | $ | 69,075 | $ | 74,450 | ||||
The company places orders each quarter that are 30.00 percent of the following quarter's sales and has a 30-day payables period. What is the payment of accounts for the third quarter?
a. $19,837.50
b. $21,260.00
c. $22,342.44
d. $18,952.50
e. $21,797.50
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Fundamentals Of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
Concise 10th Edition
1337902578, 978-1337902571
