All That Remains Products has projected sales for next year of:Q1Q203Q4Sales $ 76,700 $ 80,300 $ 86,850 $ 94,320The company places orders each quarter that are 59 percent of the following quarter's sales and has a 60-day payables period. What is the accounts payable balance at the end of the third quarter?Multiple Choice$15,792$27,090$18,550$17,081$37,099

A short-term debt payment called accounts payable must be made in order to stay in good standing.…

Answered: All That Remains Products has projected…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Q1 Libscomb Technologies' annual sales are $5,153,262 and all sales are made on credit, it purchases $3,894,023 of materials each year (and this is its cost of goods sold). Libscomb also has $500,636 of inventory, $477,741 of accounts receivable, and $490,466 of accounts payable. Assume a 365 day year. What is Libscomb’s Inventory Turnover?
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Problem 19-8 Forecasting Payments (LO2) Paymore Products places orders for goods equal to 75% of its sales forecast in the next quarter. The sales forecasts for the next five quarters are as follows: Sales forecast First $ 396 Quarter 1 2 3 4 Quarter in Coming Year Second Third $ 333 $ 343 Calculate Paymore's cash payments to its suppliers assuming that two-thirds of the purchases are paid for in the quarter that they are purchased and one-third are paid in the following quarter. Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount. X Answer is not complete. Payment S 75,000 X Fourth $ 391 Following Year First Quarter $ 391
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