Nova Retail Company expects to purchase $95,000 of materials in September and $110,000 of materials in October. 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 October's cash disbursements for materials purchases be?

Nova Retail Company expects to purchase $95,000 of materials in September and $110,000 of materials in October. 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 October's cash disbursements for materials purchases be?

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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