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Sophia, Inc. is preparing its cash budget for the fourth quarter. The inventory manager advises that ...

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Sophia, Inc. is preparing its cash budget for the fourth quarter. The inventory manager advises that ...

Sophia, Inc. is preparing its cash budget for the fourth quarter. The inventory manager advises that materials purchases will be $40,000 in October and will increase by 25% for each month thereafter due to the holiday season. Sophia's purchases in September were $32,000. Sophia pays for purchases 50% in the month after sale and 50% in the 2nd month after the sale. What are Sophia's budgeted cash payments for purchases in November?

▸ $36,000

▸ $45,000

▸ $61,000

▸ $40,000

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Managerial Accounting

Edition: 4^th

Author: Davis

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