Ivory Inc. has forecast purchases on account to be $317,000 in March, $377,000 in April, $427,000 in May, and $497,000 in June. Seventy percent of purchases are paid for in the month of purchase, the remaining 30% are paid in the following month. What are budgeted cash payments for June? Multiple Choice O O оо $448,000 $476,000 $363,000 $298,000
Ivory Inc. has forecast purchases on account to be $317,000 in March, $377,000 in April, $427,000 in May, and $497,000 in June. Seventy percent of purchases are paid for in the month of purchase, the remaining 30% are paid in the following month. What are budgeted cash payments for June? Multiple Choice O O оо $448,000 $476,000 $363,000 $298,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Ivory Inc. has forecast purchases on account to be $317,000 in March, $377,000 in April, $427,000 in May, and $497,000 in June. Seventy percent of purchases are paid for in the month of purchase, the remaining 30% are paid in the following month.
What are budgeted cash payments for June?
Multiple Choice
O
$448,000
$476,000
$363,000
$298,000
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