Question

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Answer 1

Sales Cost of goods sold @ 70% October November December $ 96,000.00 $ 72,000.00 $ 108,000.00 $67,200.00 $ 50,400.00 $ 75,600.00 Compute the cash disbursements for purchases during the year October Purchases November purchases 67200*30% 50400*70% $ 20,160.00 $ 35,280.00 Cash Disbursements in December $ 55,440.00 Note : Since october month purchases 70% will be paid in november, so remainining 30% In december November month 70% will be paid in December