Calder Water Company Has Budgeted Direct Materials Inventory Purchases as Follows

question 42

Multiple Choice

Calder Water Company has budgeted direct materials inventory purchases as follows: October: $300,000
November: $360,000
December: $460,000
Calder pays for 20% of their purchases during the month of purchase,70% during the month following the purchase,and the remaining 10% two months after the month of purchase.What is the budgeted accounts payable balance on December 31?

• A) $368,000
• B) $404,000
• C) $460,000
• D) $440,000

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