Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

How To Prepare Perform And Pass An ISO 9001 2015 Audit

Authors: Rhys J Mitchell

2020 Edition

B085KBSW66, 979-8618615969

More Books

Students also viewed these Accounting questions