Multiple Choice
Assume that Calamar Corp. has sales of $7.5 million and accounts payable of $450,000. The corporation utilizes the percent-of-sales method of financial forecasting. If Calamar is expected to generate sales of $9 million next year, what will the firm's accounts payable be?
A) $540,000
B) $450,000
C) $405,000
D) None of the above
Correct Answer:
Verified
Correct Answer:
Verified
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