A company estimated the following raw materials purchases for the coming three months. Months Amount April May $620,000 $640,000| $660,000 June The company pays for the 30% raw materials purchases in the month of purchases while the remaining 70% of the raw materials purchases are paid for in the following month. What is the amount of accounts payable as on June 30? a. $448,000 b. $198,000 c. $462,000 d. $434,000

A company estimated the following raw materials purchases for the coming three months. Months Amount April May $620,000 $640,000| $660,000 June The company pays for the 30% raw materials purchases in the month of purchases while the remaining 70% of the raw materials purchases are paid for in the following month. What is the amount of accounts payable as on June 30? a. $448,000 b. $198,000 c. $462,000 d. $434,000

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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