Question: Codner Inc plans to purchase 800 000 and 850 000
Codner, Inc., plans to purchase $ 800,000 and $ 850,000 of direct materials in Months One and Two, respectively. The accounts payable balance at the beginning of Month One is $ 50,000. Codner pays for 75 percent of its purchases in the month of purchase because a 2 percent discount is available. The remaining purchases are paid in the month following purchase. What is the expected ending balance of accounts payable?
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