creader company has forecast purchases to be $339,000 in June $378,000 in July $

Question

creader company has forecast purchases to be $339,000 in June $378,000 in July $315,000 in August and $278,000 in September.

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Home - my.utrgv.edu | Home X Exarn II ? eztornheducation search Most Visited my.utrgv.edu ALGEBRA Login Search every ACCOUNTING Exam III Question 31 (of 35) Save & Ext Subnit Time remaining: 107:43 31. Cedar Co. has forecast purchases to be $339.000 in June, $378,000 in July, $315000 in August, and S278.000 in September Purchases average 35% paid in cash, 65% are on credit Credit purchases are paid 65% in the month of purchase, 20% during the month following, and 15% the second month following the purchase. Cash disbursements in September would be: O s87.810 O $299.310 o $120,210 O $292,560

Explanation / Answer

Cash disbursement of september :

so answer is d) 292560

September Cash purchase (278000*35%) 97300 Credit purchase on september (278000*65%*65%) 117455 Credit purchase on august (315000*65%*20%) 40950 Credit purchase on july (378000*65%*15%) 36855 Total 292560

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