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what is the projected notes payable amount using the percentage of sales method with a forecasted...

what is the projected notes payable amount using the percentage of sales method with a forecasted sales growth rate of 20%; current sales of $2,400; projected sales of $2, 880 and current notes payable of $800?

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Answer #1

projected notes payable amount using the percentage of sales = 800/2400 *2880

projected notes payable amount using the percentage of sales = 960

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