Estate Corp., has the following information:MonthBudgeted PurchasesJanuary$27,600February29 900March29,500April29.680May26,090Purchases are paid for in the following manner10% of the purchase amount in the month of purchasc50% of the purchase amount in the month after purchase40% of the purchase amount in the second month after purchaseWhal is the expected balance in Accounts Payatile as of March 317OA. 526,550B. $14,750OC. $2,990D. $38,510

Name: Estate Corp., has the following information:MonthBudgeted PurchasesJa
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Description: Estate Corp., has the following information:MonthBudgeted PurchasesJanuary$27,600February29 900March29,500April29.680May26,090Purchases are paid for in the following manner10% of the purchase amount in the month of purchasc50% of the purchase amount

Solution:- Calculation of the expected balance in accounts payable in the month of March 31 as…

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Business

Accounting

What is the expected balance in Accounts Payatile as of March 31 OA. $26,550 O B. $14,750 OC. $2,990 O D. $38,510

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 11EA: Dream Big Pillow Co. pays 65% of its purchases in the month of purchase, 30% the month after the...

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