Soft Glow Candle Co. pays 20% of its purchases on account in the month of the purchase

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Soft Glow Candle Co. pays 20% of its purchases on account in the month of the purchase and 80% in the month following the purchase. If purchases are budgeted to be $15,000 for October and $17,000 for November, what are the budgeted cash payments for purchases on account for November?

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Accounting

ISBN: 978-0324662962

23rd Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

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