Weisbro and Sons Purchases Its Inventory One Quarter Prior to the Quarter

question 7

Multiple Choice

Weisbro and Sons purchases its inventory one quarter prior to the quarter of sale.The purchase price is 60 percent of the sales price.The accounts payable period is 45 days.The accounts payable balance at the beginning of Quarter 1 is $39,500.The expected sales are: Quarter 1 = $32,000; Quarter 2 = $34,500; Quarter 3 = $40,600; Quarter 4 = $50,200.What is the amount of the expected disbursements for Quarter 2? Assume a 360-day year.

• A)$19,280
• B)$20,470
• C)$22,530
• D)$25,220
• E)$19,950

---

Definitions:

Climbing the Agenda

The process of prioritizing issues or topics to gain attention or resources within an organization or society.

501(c)(3)

A section of the U.S. Internal Revenue Code that provides a tax exemption for nonprofit organizations that are charitable, religious, educational, scientific, or literary in nature.

Lobbying

The act of attempting to influence decisions made by officials in a government, most often legislators or members of regulatory agencies.

Without Restriction

Condition where there are no limitations or constraints imposed on the use, distribution, or manner of an action.