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Delleate Inc. has prepared the following purchases budget: Month June July August September October Budgeted Purchases $67,000 74,500 78,700 79,500 72,400 All purchases are paid for as follows: 40% in the month of purchase, 50% in the following month, and 10% two months after purchase. Calculate total cash payments made in October for purchases. a) $76,580 b) $68,710 c) $47,620 d) $36,830

Delleate Inc. has prepared the following purchases budget: Month June July August September October Budgeted Purchases $67,000 74,500 78,700 79,500 72,400 All purchases are paid for as follows: 40% in the month of purchase, 50% in the following month, and 10% two months after purchase. Calculate total cash payments made in October for purchases. a) $76,580 b) $68,710 c) $47,620 d) $36,830

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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Delleate Inc. has prepared the following purchases budget: Month June July August September October Budgeted Purchases $67,000 74,500 78,700 79,500 72,400 All purchases are paid for as follows: 40% in the month of purchase, 50% in the following month, and 10% two months after purchase. Calculate total cash payments made in October for purchases. a) $76,580 b) $68,710 c) $47,620 d) $36,830
Transcribed Image Text:Delleate Inc. has prepared the following purchases budget: Month June July August September October Budgeted Purchases $67,000 74,500 78,700 79,500 72,400 All purchases are paid for as follows: 40% in the month of purchase, 50% in the following month, and 10% two months after purchase. Calculate total cash payments made in October for purchases. a) $76,580 b) $68,710 c) $47,620 d) $36,830
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