The Grain and Feed Store Purchases Are Equal to 68

question 58

Multiple Choice

The Grain and Feed Store purchases are equal to 68 percent of the following quarter's sales.The accounts receivable period is 15 days and the accounts payable period is 30 days.Assume there are 30 days in each month.The store has estimated quarterly sales for the next year, starting with Quarter 1, of $16,750, $18,220, $17,560, and $19,710, respectively.How much will the store owe its suppliers at the end of Quarter 3?

• A)$3,992.20
• B)$3,807.40
• C)$4,467.60
• D)$4,508.10
• E)$4,300.27

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Definitions:

Infer High Quality

Deduce or conclude (information) to be of superior standards or excellent nature.

Promotional Campaigns

Marketing efforts aimed at increasing awareness or sales of a product or service through specific strategies and messaging.

Acquired

Something obtained, typically by a company purchasing another company or business.

Substitutes

Products or services that can be used in place of another, fulfilling a similar need or purpose for the consumer.