Ashland Corporation a merchandising firm is preparing its cash budget
Ashland Corporation, a merchandising firm, is preparing its cash budget for October. The following information is available concerning its inventories:
Inventories at beginning of October ................ $ 505,000
Estimated purchases for October .................. 1,980,000
Estimated cost of goods sold for October.............. 2,025,000
Estimated payments in October for purchases in September ...... 495,000
Estimated payments in October for purchases prior to September ...... 90,000
Estimated payments in October for purchases in October........ 70%

Required
What are the estimated cash disbursements in October?

Membership TRY NOW
  • Access to 800,000+ Textbook Solutions
  • Ask any question from 24/7 available
    Tutors
  • Live Video Consultation with Tutors
  • 50,000+ Answers by Tutors
OR
Relevant Tutors available to help