In preparing its cash budget for May, Ben Co. made the following projections: Sales $3,000,000 Gross margin
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In preparing its cash budget for May, Ben Co. made the following projections:
Sales | $3,000,000 |
Gross margin (based on sales) | 25% |
Decrease in inventories | $140,000 |
Increase in accounts payable for inventories | $240,000 |
For May, How much were the estimated cash disbursements for inventories (purchases from suppliers)?
Related Book For
Fundamentals of Corporate Finance
ISBN: 978-0133400694
1st canadian edition
Authors: Jonathan Berk, Peter DeMarzo, Jarrad Harford, David A. Stangeland, Andras Marosi
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