Question
Merrell Enterprises had the following purchases budgeted for the last six months of 2020: July $100 000 August 80 000 September 90 000 October 70
Merrell Enterprises had the following purchases budgeted for the last six months of 2020:
| July | $100 000 |
| August | 80 000 |
| September | 90 000 |
| October | 70 000 |
| November | 90 000 |
| December | 100 000 |
Merrell pays one-half of a months purchases in the month of purchase and the remainder in the following month. What are expected total cash disbursements for the last quarter of 2020?
| a. | $210 000 |
| b. | $255 000 |
| c. | $130 000 |
| d. | $260 000 |
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Franchising An Accounting Auditing And Income Tax Guide
Authors: Ross A. McCallum
2011edition
1460906179, 978-1460906170
