Jameson Retailers expects to make inventory purchases in the next quarter as follows: April $56,000...
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Accounting
Jameson Retailers expects to make inventory purchases in the next quarter as follows:
April $56,000 May 80,000 June 90,000
Prior experience has shown that 35 percent of a month's purchases are paid in the month of purchase and 65 percent in the month following purchase. March purchases were $65,000. How much are cash disbursements related to purchases for May?
$28,000
$86,500
$71,600
$64,400
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