chandise vertory of $456,000 in January and $530,500 in February. Assume Thiel pays for inventory purchases 40% in the month of the purchase and 60% in the month after purchase. The Accounts Payable balance on December 31 is $98,150. Prepare a schedule of cash payments for purchases for January and February ( a input field is not used in the table leave the input field empty, do not enter a zero) Cash Payments Total merchandise inventory purchases Cash Payments Merchandise Inventory: Dec-Dec. 31 Accounts Payable, paid in Jan. Jan-Jan merchandise inventory purchases paid in Jan. Jan-Jan merchandise inventory purchases paid in Feb. Feb-Feb. merchandise inventory purchases paid in Feb. Total payments for merchandise inventory January January February February

chandise vertory of $456,000 in January and $530,500 in February. Assume Thiel pays for inventory purchases 40% in the month of the purchase and 60% in the month after purchase. The Accounts Payable balance on December 31 is $98,150. Prepare a schedule of cash payments for purchases for January and February ( a input field is not used in the table leave the input field empty, do not enter a zero) Cash Payments Total merchandise inventory purchases Cash Payments Merchandise Inventory: Dec-Dec. 31 Accounts Payable, paid in Jan. Jan-Jan merchandise inventory purchases paid in Jan. Jan-Jan merchandise inventory purchases paid in Feb. Feb-Feb. merchandise inventory purchases paid in Feb. Total payments for merchandise inventory January January February February

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

ChapterMB: Model-building Problems

Section: Chapter Questions

Problem 22M

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