Question
Lambert Company purchased $140,000 of goods in September and expects to purchase $130,000 of goods in October. Lambert typically pays for 20% of purchases in
Lambert Company purchased $140,000 of goods in September and expects to purchase $130,000 of goods in October. Lambert typically pays for 20% of purchases in the month of purchase and 80% in the following month. Every month, Lambert must make the following payments: ? Rent $5,000 Wages 14,000 Utilities 3,000 Telephone 400 Loan on equipment 1,200 ? In mid-October, Lambert expects to buy a new computer for $4,500 using the company credit card. Typically, the credit card bill is paid in full in the following month. September credit card purchases totaled $6,000. What are the total cash disbursements expected by Lambert during the month of October? Question 9 options: $167,600 $172,100 $161,600 $55,600 $60,100
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