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Home Q & A Board Other Fields Homework Help Business Accounting
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7 years ago
Risa, Inc. has provided the following extracts from their budget for the first quarter of the forthcoming year:

   Jan    Feb   March
Purchases on account   $264,000   $295,000   $320,000

The vendors are allowed the following terms of payment:

Month of purchase   30%
First month after the purchase   35%
Second month after the purchase    35%

Calculate the total payment on account for the month of March.
A) $320,000
B) $168,275
C) $291,650
D) $136,955
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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7 years ago
This was certainly a tough question, loving the expertise
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