Gifts For All has projected sales for next year of: Q1 Q2 Q3 Q4 Sales $ 25,200
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Question:
Gifts For All has projected sales for next year of:
Q1 | Q2 | Q3 | Q4 | |||||||||
Sales | $ | 25,200 | $ | 27,400 | $ | 33,700 | $ | 41,700 |
Purchases are equal to 70 percent of next quarter's sales. Each month has 30 days, the accounts receivable period is 41 days, and the accounts payable period is 44 days. How much will the company pay suppliers in the third quarter?
Related Book For
Fundamentals of Corporate Finance
ISBN: 978-0077861629
8th Edition
Authors: Stephen A. Ross, Randolph W. Westerfield, Bradford D.Jordan
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