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Test Company purchases all materials on account. The company pays for 60% of materials purchases in the month of the purchase and 40% in the
Test Company purchases all materials on account. The company pays for 60% of materials purchases in the month of the purchase and 40% in the month following the month of purchase. Budgeted purchase for the first six months of the year are as follow. Determine the cash payment April for materials purchases. Note: Give your answer using dollar signs and commas but no decimal points (cents). Example: $12,345
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