The Purchases Budget for Popular Paper Products shows the following values for planned purchases for...

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Accounting

The Purchases Budget for Popular Paper Products shows the following values for planned purchases for the year ended December 31,20X1:
Q1- $56,300 Q2-$14,900 Q3- $24,500 Q4 $27,500
The relevant Accounts Payable balance at the beginning of Q1 is $40,000.
For budgeting purposes, Popular Paper Products expects to pay for 40% of purchase cost in the quarter of purchase, and 60% in the quarter following the purchase. Given this information, what is the expected cash disbursement for purchases for Q3.
a.
$49,940
b.
$58,740
c.
$18,740
d.
$49,800

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