Homework Answers
Total sales in April = 500 + 800 = 1300
Sales in May = 1300+25% = 1625
Sales in June = 1625+25% = 2031.25
Total sales for quarter
= 1300+1625+2031.25
= 4956.25
Option A
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Budgeted sales for the month of April are shown in the following table: Sales Cash Sales...
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Vernon Books expects to purchase the following supplies: April May June Required purchases (on account) $...
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May
June
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110,000
$
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cash payments for supplies purchases. Vernon Books’s suppliers
require that 85 percent of purchases on account be paid in the
month of purchase; the remaining 15 percent are paid in the month
following the month of purchase.
Required
Complete the schedule of cash payments for supplies purchases by
filling in the...
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$
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cash payments for supplies purchases. Fanning Books’s suppliers
require that 85 percent of purchases on account be paid in the
month of purchase; the remaining 15 percent are paid in the month
following the month of purchase.
Required
Complete the schedule of cash payments for supplies purchases by
filling in the...
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April
May
June
Required purchases (on account)
$
110,000
$
130,000
$
142,000
Vernon Books’s accountant prepared the following schedule of
cash payments for supplies purchases. Vernon Books’s suppliers
require that 85 percent of purchases on account be paid in the
month of purchase; the remaining 15 percent are paid in the month
following the month of purchase.
Required
Complete the schedule of cash payments for supplies purchases by
filling in the...
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April
May
June
Required purchases (on account)
$
112,000
$
132,000
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Fanning Books’s accountant prepared the following schedule of
cash payments for supplies purchases. Fanning Books’s suppliers
require that 85 percent of purchases on account be paid in the
month of purchase; the remaining 15 percent are paid in the month
following the month of purchase.
Required
Complete the schedule of cash payments for supplies purchases by
filling in the...
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