Using the following information about Sophie's business, answer thefollowing questionCreditMonthPurchasesAugust70 000September75 000October85 000November90 000December70 000Accounts payable are paid in full during the month of purchase.What is Estimated Total Cash Payments in October?Select one:a. $70,000b. $85,000O c. $90,000O d. $30,000

Cash payment refers to the amount paid through the recipient of the goods and the services to the…

Answered: Using the following information about…

Using the following information about Sophie's business, answer the following question Credit Month Purchases August 70 000 September 75 000 October 85 000 November 90 000 December 70 000

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 11EB: Gear Up Co. pays 65% of its purchases in the month of purchase, 30% in the month after the purchase,...

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