Answer the Following Questions Using the Information Below:
Wallaby Company

question 34

Multiple Choice

Answer the following questions using the information below:
Wallaby Company has the following information:
$$\begin{array} { l c } \text { Month } & \text { Budgeted Purchases } \\\text { January } & \$ 26800 \\\text { February } & 29000 \\\text { March } & 30520 \\\text { April } & 29480 \\\text { May } & 27680\end{array}$$ Purchases are paid for in the following manner:
10% of the purchase amount in the month of purchase
50% of the purchase amount in the month after purchase
40% of the purchase amount in the month after purchase
-What is the expected balance in Accounts Payable as of 31 March?

• A)$39 068
• B)$18 312
• C)$30 520
• D)$2900

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Definitions:

Real Price

The price of a good or service after adjusting for inflation, reflecting its true purchasing power over time.

Annual Consumption

The total amount of goods and services consumed by an individual, household, or economy in a one-year period.

Supply Curve

A graphical representation that shows the relationship between the price of a good and the quantity of the good that suppliers are willing to produce and sell.

College Education

A post-secondary education resulting in a degree or diploma obtained from a college or university.