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​Galina, Inc. has prepared the following direct materials purchases​ budget: Month Budgeted DM Purchases June $ 69 comma 000.00 July 79 comma 500 August 76 comma 300 September 79 comma 400 October 77 comma 200 All purchases are paid for as​ follows: 40​% in the month of​ purchase, 50​% in the following​ month, and 10​% two months after purchase. Calculate the budgeted balance of accounts payable at the end of October

Respuesta :

Answer:

$78,210

Explanation:

Base on the scenario been described in the question, we can use the following to solve the given problem

Payments in October: For Oct. purchases (40% × $77,200) $30,880

Payment For Septeber purchases (50% × $79,400) 39,700

Payment For August purchases (10% × $76,300) 7,630

Total cash paid $78,210