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Business, 01.12.2020 14:00 hcameron65

Mumbai Inc. has prepared the following purchases budget: Month

Budgeted Purchases

June

$67,000

July

72,500

August

76,300

September

73,700

October

69,200

All purchases are paid for as follows: 10% in the month of purchase, 50% in the following month, and 40% two months after purchase. Calculate balance of Accounts payable at the end of October.

A) $77,680

B) $91,760

C) $69,330

D) $74,290

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Answers: 1

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Mumbai Inc. has prepared the following purchases budget: Month

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