paid in month of purchase: 10% paid n first month following purchase: 40% Paid in second month following purchase: 50% If budgeted purchases for April, May, and june are $30,000, $45,000 and $20,000, what is the budgeted accounts payable balance on June 30? a. 32500 b. 31000 c. 35000 d. 40500

paid in month of purchase: 10% paid n first month following purchase: 40% Paid in second month following purchase: 50% If budgeted purchases for April, May, and june are $30,000, $45,000 and $20,000, what is the budgeted accounts payable balance on June 30? a. 32500 b. 31000 c. 35000 d. 40500

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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Question

paid in month of purchase: 10%

paid n first month following purchase: 40%

Paid in second month following purchase: 50%

If budgeted purchases for April, May, and june are $30,000, $45,000 and $20,000, what is the budgeted accounts payable balance on June 30?

a. 32500

b. 31000

c. 35000

d. 40500

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