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Hightower Company Has the Following Information: Purchases Are Paid

Question 105

Multiple Choice

Hightower Company has the following information: Hightower Company has the following information: Purchases are paid as follows: 75% in the month of purchase 25% one month after purchase What is the expected balance in Accounts Payable on April 30? A) 0 B) $7,500 C) $20,250 D) $30,000 Purchases are paid as follows:
75% in the month of purchase
25% one month after purchase
What is the expected balance in Accounts Payable on April 30?


A) 0
B) $7,500
C) $20,250
D) $30,000

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