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Thomas Company has a sales budget for February of $1,000,000.; Cost of goods sold is expected to be 45 percent of sales. Inventory on hand
Thomas Company has a sales budget for February of $1,000,000.; Cost of goods sold is expected to be 45 percent of sales. Inventory on hand at January 31 is $20,000. Ending inventory of $24,000 is desired for February. All goods are paid for in the month following purchase. What is budgeted accounts payable at the end of February
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