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9. ABC Company pays for merchandise by paying cash and using credit. Credit purchases equal...

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Accounting

9. ABC Company pays for merchandise by paying cash and using credit. Credit purchases equal 80% of the purchases. Of those purchased on credit, the purchases are paid for as follows: 60% in the current month, 35% in the month following, and 5% in the second month following. Assume January purchases are $65,000. How much of the January purchases are paid for in January?

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