Question 13 Alliance Construction is estimating the following raw material purch

Question

Question 13 Alliance Construction is estimating the following raw material purchases for the final four months of the Not yet answered year: September: $800,000 October: $920,000 November: $1,090,000 December: $740,000 At Alliance, 30% of raw materials purchases are normally paid for in the month of purchase. The remaining 70% is paid for in the month following the purchase. Points out of 3 Flag question In Alliance's budgeted balance sheet at December 31, at what amount will acounts payable for raw materials be shown? Select one: O a. $845,000 O b. $985,000 O c. $1,503,000 O d, $518,000 / 2

Explanation / Answer

Accounts Payable for raw materials = 740000*70%= $518000 Option D is correct

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