Simon's business sells widgets to local buyers. Purchase each month equals to 21 percent of the next
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Simon's business sells widgets to local buyers. Purchase each month equals to 21 percent of the next month’s projected sales. Simon pays $12 for each widget it purchases. Simon and its supplier have an agreement that allows Simon to pay for each purchase 60 days after the purchase. This year, Simon expects to sell:
September | 373widgets |
October | 316 widgets |
November | 457 widgets |
December | 629 widgets |
Calculate the expected cash paid in November.
Related Book For
Managerial Accounting A Focus on Ethical Decision Making
ISBN: 978-0324663853
5th edition
Authors: Steve Jackson, Roby Sawyers, Greg Jenkins
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