Mitchell Wright Group Expects to Generate Sales of $5,950,000 for Fiscal

question 34

Multiple Choice

Mitchell Wright Group expects to generate sales of $5,950,000 for fiscal 2019; sales were $3,450,000 in fiscal 2018.Assume the following figures for the fiscal year ending 2018: cash $70,000; accounts receivable $250,000; inventory $400,000; net fixed assets $520,000; accounts payable $235,000; and accruals $155,000.Use the percentage-of-sales method to forecast accounts payable for the fiscal year ending 2019.

• A)$212,036
• B)$405,290
• C)$619,619
• D)$155,000

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