Limitless Styles Has a 45 Day Accounts Payable Period

question 39

Multiple Choice

Limitless Styles has a 45 day accounts payable period. The firm has expected sales of $900, $1,200, $1,900, and $2,600, respectively, by quarter for the next calendar year. The cost of goods sold for a quarter is equal to 70% of the next quarter sales. The firm has a beginning payables balance of $600 as of quarter one. What is the amount of the projected cash disbursements for accounts payable for Quarter 3 of the next year? Assume that a year has 360 days.

• A) $950
• B) $1,085
• C) $1,195
• D) $1,575
• E) $1,820

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