The following details have been extracted from the payables' records of X Co: Invoices paid in the month of purchase 25% Invoices paid in the first month after purchase 70% Invoices paid in the second month after purchase 5% Purchases for July to September are budgeted as follows: July $250,000 August $300,000 September $280,000 For suppliers paid in the month of purchase, a settlement discount of 5% is received. What is the amount budgeted to be paid to suppliers in September?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The following details have been extracted from the payables' records of X Co:

Invoices paid in the month of purchase 25%

Invoices paid in the first month after purchase 70%

Invoices paid in the second month after purchase 5%

Purchases for July to September are budgeted as follows:

July $250,000

August $300,000

September $280,000

For suppliers paid in the month of purchase, a settlement discount of 5% is received. What is the

amount budgeted to be paid to suppliers in September?

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