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PLEASE HELP!!! Will thumbs up!!! What is the amount of budgeted cash payments if purchases are budgeted for $420,000 and the beginning and ending balances
PLEASE HELP!!! Will thumbs up!!!
What is the amount of budgeted cash payments if purchases are budgeted for $420,000 and the beginning and ending balances of accounts payable are $92,000 and $95,000, respectively? $417,000 $512,000 $420,000 Not enough information given to determine the answer $423,000 Hippo, Inc, estimates its sales at 90,000 units ih the first quarter and that sales will increase by 9,000 units each quarter over the year. They have, and desire, a 35% ending inventory of finished goods. Each unit sells for $19.30% of the sales are for cash. 40% of the credit customers pay within the quarter. The remainder is received in the quarter following sale. Cash collections for the third quarter are budgeted at $2,226,420$2,565,000$1,980,180$2,052,000 Step by Step Solution
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