Star Moving Systems,Inc The Terms of Payment Offered by the Suppliers Are to Purchased

question 8

Essay

Star Moving Systems,Inc.has provided the following details for direct materials purchased on account in different months.
$$\begin{array} { l l } \text { Jan } & \$ 35,000 \\\text { Feb } &28 , 0 0 0 \\\text { March } &3 4 , 0 0 0 \\\text { April } & 3 9 , 0 0 0 \\\text { May } &3 2 , 0 0 0 \\\text { June } & 2 9 , 0 0 0 \end{array}$$ The terms of payment offered by the suppliers are to pay 70% in the month of purchase and 30% in the following month.Calculate the payments on account made during the first six months.

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Definitions:

Per Se Violation

An act that is inherently illegal, without the need for further evidence to prove its unlawfulness.

Economic Harm

Financial damage or loss experienced by an individual or entity due to another party's actions or events.

Territorial Restriction

Limitations placed on where a product can be sold or a service can be provided, often used by companies to divide markets or control franchises.

Horizontal Division

The division of tasks, responsibilities, or authority within the same level of an organization or government, promoting specialization and efficiency.