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109.ABC Co. makes all purchases on account, subject to the following payment pattern: month of purchase: 30% 2nd month following purchase: 5% 1 month following purchase: 65% If purchases for April, May, and June were P200,000, P160,000, and P250,000, respectively, what was the firm's budgeted payables balance on June 307 A. P175,000 B. P179,000 C. P183,000 D. P189,000

109.ABC Co. makes all purchases on account, subject to the following payment pattern: month of purchase: 30% 2nd month following purchase: 5% 1 month following purchase: 65% If purchases for April, May, and June were P200,000, P160,000, and P250,000, respectively, what was the firm's budgeted payables balance on June 307 A. P175,000 B. P179,000 C. P183,000 D. P189,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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109.ABC Co. makes all purchases on account, subject to the following payment pattern: month of purchase: 30% 2 month following purchase: 5% 1st month following purchase: 65% If purchases for April, May, and June were P200,000, P160,000, and P250,000, respectively, what was the firm's budgeted payables balance on June 30? A. P175,000 B. P179,000 C. P183,000 D. P189,000
Transcribed Image Text:109.ABC Co. makes all purchases on account, subject to the following payment pattern: month of purchase: 30% 2 month following purchase: 5% 1st month following purchase: 65% If purchases for April, May, and June were P200,000, P160,000, and P250,000, respectively, what was the firm's budgeted payables balance on June 30? A. P175,000 B. P179,000 C. P183,000 D. P189,000
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