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Resco, a local retail establishment, expects to make inventory purchases as follows for the first quarter of 2016: January, $8,500; February, $10,200; and March, $12,100.
Resco, a local retail establishment, expects to make inventory purchases as follows for the first quarter of 2016: January, $8,500; February, $10,200; and March, $12,100. Prior experience shows that 25% of a given months purchases are paid in the month of purchase with the balance paid in the following month. No purchase discounts apply. |
What is the total expected cash disbursement for February? For March? |
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