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Home Q & A Board Other Fields Homework Help Business Accounting
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General, Inc. has prepared the following direct materials purchases budget:

Month   Budgeted DM Purchases
June   $69,000
July   78,500
August   78,100
September   76,000
October   78,200

All purchases are paid for as follows: 40% in the month of purchase, 50% in the following month, and 10% two months after purchase. Calculate budgeted balance of accounts payable at the end of October.
A) $54,520
B) $46,920
C) $15,420
D) $7,600
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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