Purchases in May were $58,000, while expected purchases for June and July are $72,000 and $85,000, respectively. All purchases are paid 40% in the month of purchase and 60% in the following month. At what amount are June payments for purchases budgeted?
A. $97,600
B. $63,600
C. $86,000
D. $66,400

Purchases in May were $58,000, while expected purchases for June and July are $72,000 and $85,000, respectively. All purchases are paid 40% in the month of purchase and 60% in the following month.

Cash for June:

June= 72,000*0.4= 28,800

From May= 58,000*0.6= 34,800

Total= $63,600

Answer Link

Purchases in May were $58,000, while expected purchases for June and July are $72,000 and $85,000, respectively. All purchases are paid 40% in the month of purchase and 60% in the following month. At what amount are June payments for purchases budgeted? A. $97,600 B. $63,600 C. $86,000 D. $66,400

Respuesta :

Otras preguntas

Purchases in May were $58,000, while expected purchases for June and July are $72,000 and $85,000, respectively. All purchases are paid 40% in the month of purchase and 60% in the following month. At what amount are June payments for purchases budgeted?
A. $97,600
B. $63,600
C. $86,000
D. $66,400