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The company places orders each quarter that are 47 percent of next quarter's sales and has...

The company places orders each quarter that are 47 percent of next quarter's sales and has a 30-day payables period. The projected sales for next year are: Q1 Q2 Q3 Q4 Sales $ 53,550 $ 59,850 $ 68,850 $ 74,150 What is the accounts payable balance at the end of the second quarter? Multiple Choice $14,770 $18,753 $9,377 $21,573 $10,787

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Answer #1

Accounts payable at 2nd quarter ending:
= $68,850×47%×30/90
= $10,787
Hence, correct option is $10,787

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