The total cost of raw materials to be purchased in the 2nd quarter of 2021...
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Accounting
The total cost of raw materials to be purchased in the 2nd quarter of 2021 is as follows:
April $30,460
May $27,830
June $41,020
Accounts Payable at March 31, 2021 was $7,440. Raw materials are all purchased on account; 80% are paid in the month in which they are purchased and 20% are paid the following month. At June 30, 2021, what will the balance in Accounts Payable be?
- A.
$32,816
- B.
$5,566
- C.
$15,644
- D.
$8,204
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