New England Candle Co. pays 10% of its purchases on account in the month of the purchase

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New England Candle Co. pays 10% of its purchases on account in the month of the purchase and 90% in the month following the purchase. If purchases are budgeted to be $14,000 for August and $16,000 for September, what are the budgeted cash payments for purchases on account for September?

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Accounting

ISBN: 978-0324401844

22nd Edition

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

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