Gifts For All has projected sales for next year of: Q1 Q2 Q3 Sales $ 25,400 $ 27,600 $ 34,000 Q4 $ 41,900 Purchases are equal to 63 percent of next quarter's sales. Each month has 30 days, the accounts receivable period is 40 days, and the accounts payable period is 43 days. How much will the company pay suppliers in the third quarter?

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Gifts For All has projected sales for next year of:
Sales
Q1
Q2
Q3
Q4
$ 25,400 $ 27,600 $ 34,000 $ 41,900
Purchases are equal to 63 percent of next quarter's sales. Each month has
30 days, the accounts receivable period is 40 days, and the accounts
payable period is 43 days. How much will the company pay suppliers in the
third quarter?
Transcribed Image Text:Gifts For All has projected sales for next year of: Sales Q1 Q2 Q3 Q4 $ 25,400 $ 27,600 $ 34,000 $ 41,900 Purchases are equal to 63 percent of next quarter's sales. Each month has 30 days, the accounts receivable period is 40 days, and the accounts payable period is 43 days. How much will the company pay suppliers in the third quarter?
$19,494
$24,185
$22,846
$24,019
$23,798
Transcribed Image Text:$19,494 $24,185 $22,846 $24,019 $23,798
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