ABC Company has prepared the following purchases budget:

All purchases are paid for as follows: 10% in the month of purchase, 50% in the following month, and 40% two months after purchase. Calculate balance of Accounts payable at the end of October.

A) $77,680

B) $91,760

C) $69,330

D) $74,290

Transcribed Image Text:

Budgeted Month Purchases June $67,000 July 72,500 August 76,300 September 73,700 October 69,200 Budgeted Month Purchases June $67,000 July 72,500 August 76,300 September 73,700 October 69,200

Answer rating: 100% (QA)

B 91760 Explanation Accounts Paya... View the full answer