Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 9. abc company pays for merchandise by paying cash

9. ABC Company pays for merchandise by paying cash and using credit. Credit purchases equal...

90.2K

Verified Solution

Question

Accounting

9. ABC Company pays for merchandise by paying cash and using credit. Credit purchases equal 80% of the purchases. Of those purchased on credit, the purchases are paid for as follows: 60% in the current month, 35% in the month following, and 5% in the second month following. Assume January purchases are $65,000. How much of the January purchases are paid for in January?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

Compare and contrast the digestion of proteins and lipids. Include at least two similarities and two...

Electrical Engineering
1.2K views

1. The lines of code below form a counting loop: LoadDelay mov.w #0x001A, R15 LoopTop dec.w R15 jnz...

Physics
1.2K views

Ron Swanson is by his fireplace drinking his favorite Lagavulin scotch (the 16 year, of course)....

Psychology
1.2K views

Janine is a wholesale yarn salesperson working the northeastern US. Her territory covers all of Pennsylvania,...

Biology
1.2K views

Which of the following is NOT one of the concepts of the cell theory All...

Geometry
1.2K views

E H y 4 3 21 2 1 4 3 2 10 1 2 3...

Basic Math
1.2K views

A manufacturer of portable tools has three sets Basic Homeowner and Pro which must be...

Calculus
1.2K views

If y k 1 x 3 then y 0 k 0

Algebra
1.2K views

Maximize P = x + 2y - zsubject to2x + y + z ? 144x...

Accounting
1.2K views

Break-Even Sales Under Present and Proposed Conditions The division of costs between variable and fixed...

Accounting
1.2K views

5.00 points Houghton Company began business on January 1, 2015 by issuing all of its...

Finance
1.2K views

Troy will receive $7762 at the end of Year 2. At the end of the...