Acti Manufacturing Corporation is estimating the following raw material purchases for the final four months...
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Accounting
Acti Manufacturing Corporation is estimating the following raw material purchases for the final four months of the year: September $ 830,000 October $ 940,000 November $ 860,000 December $ 780,000 At Acti, 40% of raw materials purchases are normally paid for in the month of purchase. The remaining 60% is paid for in the month following the purchase. In Acti's budgeted balance sheet at December 31, at what amount will accounts payable for raw materials be shown?
Multiple Choice a.$564,000
b.$780,000
c.$468,000
d.$588,000
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