in the second month following the pu end of 2017 and the beginning of 201 Dream Big Pillow Co. purchase data er 2017 January 2018 Februar $30,395 136 $34, le in February. Round to the nearest

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Dream Big Pillow Co. pays 65% of its purchases in the month of purchase, 30% the month
after the purchase, and 5% in the second month following the purchase. It made the
following purchases at the end of 2017 and the beginning of 2018:
Dream Big Pillow Co. purchase data
December 2017 January 2018 February 2018
Month
Purchases
$34,136
$30,395
$34,493
Calculate the payments made in February. Round to the nearest penny, two decimal places.
March 2018
$45,379
Transcribed Image Text:Dream Big Pillow Co. pays 65% of its purchases in the month of purchase, 30% the month after the purchase, and 5% in the second month following the purchase. It made the following purchases at the end of 2017 and the beginning of 2018: Dream Big Pillow Co. purchase data December 2017 January 2018 February 2018 Month Purchases $34,136 $30,395 $34,493 Calculate the payments made in February. Round to the nearest penny, two decimal places. March 2018 $45,379
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