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6. . Microsoft has budgeted inventory purchases as follows: October: $350,000 November: $365,000 December: $390,000...

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Accounting

6.

. Microsoft has budgeted inventory purchases as follows:

October: $350,000

November: $365,000

December: $390,000

Microsoft pays for 20% of their purchases during the month of purchase, 70% during the month following the purchase, and the remaining 10% two months after the month of purchase. What is the budgeted accounts payable balance on December 31?

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