In September of 2013, Mitford Products Inc

Multiple Choice

In September of 2013, Mitford Products Inc. began doing business as a corporation. The company plans to start making its first purchases in October of 2013. They have the following purchases budgeted for the last quarter of 2013: Mitford has worked out agreements with its various suppliers to pay for one-third of a month's purchases each month, beginning in the month of purchase, until the purchases are paid in full. No purchases were made prior to October.
What are expected total cash disbursements for the last quarter of 2013?

A) $1,490,000
B) $ 723,333
C) $1,006,667
D) $1,446,667