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Category > Accounting Posted 19 Aug 2017 My Price 6.00

Wight Inc.

Cornerstone Exercise 9-31            Preparing an Accounts Payable Schedule

Wight Inc. purchases raw materials on account for use in production. The direct materials pur- chases budget shows the following expected purchases on account:

 

 

 

April

$374,400

May

411,200

June

416,000

Wight typically pays 20% on account in the month of billing and 80% the next month.

 

Required:

1.       How much cash is required for payments on account in May?

2.       How much cash is expected for payments on account in June?

Answers

Maurice Tutor
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Status NEW Posted 19 Aug 2017 02:08 PM My Price 6.00

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