Below are budgeted data for flour international. Inventory purchases: October 20

Question

Below are budgeted data for flour international. Inventory purchases:
October 20000 November. 60000 December. 80000
30% of purchases are paid in the month of the purchases and 70% in the following month. The cash paid for inventory purchase in December is
A. 24000 B. 80000 C. 42000 D. 66000

Below are budgeted data for flour international. Inventory purchases:
October 20000 November. 60000 December. 80000
30% of purchases are paid in the month of the purchases and 70% in the following month. The cash paid for inventory purchase in December is
A. 24000 B. 80000 C. 42000 D. 66000


October 20000 November. 60000 December. 80000
30% of purchases are paid in the month of the purchases and 70% in the following month. The cash paid for inventory purchase in December is
A. 24000 B. 80000 C. 42000 D. 66000

Explanation / Answer

D. $66,000 Statement showing computations Particulars Amount Cash paid for December Purchases= 80,000 * 30%             24,000.00 Cash paid for November Purchases = 60,000*70%             42,000.00 Total Cash paid in December             66,000.00

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