No. 2: (4 marks) The following details have been extracted from the payables records of...
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Accounting
No. 2: (4 marks) The following details have been extracted from the payables records of X company. Invoices paid in the month of purchase 25% Invoices paid in the first month after purchase 70% Invoices paid in the second month after purchase 5% Purchases for July to September are budgeted as follows: July $250,000 August $300,000 $280,000 September For suppliers paid in the month of purchase, a settlement discount of 5% is received. What is the amount budgeted to be paid to suppliers in September? 2 Page
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