The beginning accounts payable (associated with PlasticPR purchases only) will consist of $101,278 arising from the following estimated material purchases for November and December of 2020:

Material purchases in November 2020: $213,850

Material purchases in December 2020: $138,400

Wood Parts-Musical Instruments pays for 50% of a month’s purchases in the month of purchase, 35% in the following month and the remaining 15% two months after the month of purchase. There is no early payment discount.

 

Transcribed Image Text:

Word Parts-Musical Instruments LTD Schedule of Cash Disbursement For Materials For the year ended December 31, 2020 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year APfrom November 213,850 AP from December 138,540 Jan Feb Mar Apr Мay Jun Jul Aug Sep Oct Nov Dec Word Parts-Musical Instruments LTD Schedule of Cash Disbursement For Materials For the year ended December 31, 2020 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year APfrom November 213,850 AP from December 138,540 Jan Feb Mar Apr Мay Jun Jul Aug Sep Oct Nov Dec

Answer rating: 100% (QA)

Answer Purchases 213850 138400 PlasticPR Sc... View the full answer