M) Kids Company expects to purchase: $40,000 of DM in June; $60,000 of DM in...
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Accounting
M)
Kids Company expects to purchase: $40,000 of DM in June; $60,000 of DM in July; Three-quarters of all purchases are paid for in the month of purchase; and the other one-quarter are paid for in the month following the month of purchase; In addition, 2% discount is received for payments made in the month of purchase. Required: Compute the amount of Julys cash payments for DM purchases.
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