A company plans to purchase inventory for the second half of 2014 as follows: July $100,000 August
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Question:
July $100,000
August $75,000
September $225,000
October $125,000
November $250,000
December $30,000
They usually pay 50% of inventory purchases in the month of purchase, 35% in the following month, and 15% in the second month.
Based on this information, what are the forecasted total 2014 cash payments for inventory purchased in the second half of 2014?
Related Book For
Introduction to Governmental and Not for Profit Accounting
ISBN: 978-0132776011
7th edition
Authors: Martin Ives, Terry K. Patton, Suesan R. Patton
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