Please provide correct answer accounting question Neal Merchandising Company expects to purchase $90,000 ofmaterials in July and $105,000 of materials in August. Three-quarters of all purchases are paid for in the month of purchase,and the other one-fourth are paid for in the month followingthe month of purchase.How much will August's cash disbursements for materialspurchases be?

Step 1: Define Accounting for PurchasesPurchases in accounting are used to denote the cost that is…

Answered: Neal Merchandising Company expects to…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 14EA: Halifax Shoes has 30% of its sales in cash and the remainder on credit. Of the credit sales, 65% is...

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Ash Merchandising Company expects to purchase $86,000 of materials in July and $118,000 of materials in August. Three- quarters of all purchases are paid for in the month of purchase, and the other one-fourth are paid for in the month following the month of purchase. How much will August's cash disbursements for materials purchases be?
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