Multiple Choice
Birds Unlimited has an accounts payable period of 60 days.The firm has expected sales of $17,800,$22,100,$24,400 and $28,800,respectively,by quarter for the next calendar year.The purchases for a quarter are equal to 65 percent of the following quarter's sales.What is the amount of the projected cash disbursements for accounts payable for Quarter 3? Assume a 360-day year.
A) $11,126.67
B) $16,813.33
C) $12,693.33
D) $17,125.50
E) $12,250.33
Correct Answer:
Verified
Correct Answer:
Verified
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