Answered step by step
Verified Expert Solution
Question
1 Approved Answer
This Question: 3 pts 13 of 30 Lough Company prepared the following purchases budget: Month Budgeted Purchases June $43,000 July $45,000 August $38,000 September $54,000
This Question: 3 pts 13 of 30 Lough Company prepared the following purchases budget: Month Budgeted Purchases June $43,000 July $45,000 August $38,000 September $54,000 October $49,900 All purchases are paid for as follows: 5% two months after purchase, 35% in the following month, and 60% in the month of purchase. What are the total cash disbursements in August to account for the purchase of merchandise at Lough Company? O A. $43,450 O B. $50,740 O C. $40,700 OD. $22,800
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started