General,Inc.has Prepared the Following Direct Materials Purchases Budget

question 166

Multiple Choice

General,Inc.has prepared the following direct materials purchases budget:

All purchases are paid for as follows: 10% in the month of purchase,50% in the following month,and 40% two months after purchase.Calculate budgeted balance of accounts payable at the end of October.

• A)$69,120
• B)$100,240
• C)$31,120
• D)$61,840

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