Peabody Company prepared the following purchases budget: MONTH BUDGETED PURCHASES June 35200 July 42300 August 38700 September 45100 October 49700 All purchases are paid for as follows: 30% in the month of purchase, 60% in the following month, and 10% two months after purchase. What are the total cash disbursements in October to account for the purchase of merchandise at Peabody Company?
Peabody Company prepared the following purchases budget: MONTH BUDGETED PURCHASES June 35200 July 42300 August 38700 September 45100 October 49700 All purchases are paid for as follows: 30% in the month of purchase, 60% in the following month, and 10% two months after purchase. What are the total cash disbursements in October to account for the purchase of merchandise at Peabody Company?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Peabody Company prepared the following purchases budget:
MONTH | BUDGETED PURCHASES |
June | 35200 |
July | 42300 |
August | 38700 |
September | 45100 |
October | 49700 |
All purchases are paid for as follows: 30% in the month of purchase, 60% in the following month, and 10% two months after purchase.
What are the total cash disbursements in October to account for the purchase of merchandise at Peabody Company?
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