Purchases for May Were $100,000, While Expected Purchases for June

question 88

Multiple Choice

Purchases for May were $100,000, while expected purchases for June and July are $110,000 and $125,000, respectively. All purchases are paid 25% in the month of purchase and 75% the following month. Calculate the budgeted payments for the month of June.

• A)$102,500
• B)$107,500
• C)$110,000
• D)$121,250

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Definitions:

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