Mississippi Retailers expects to make inventory purchases in the next quarter as follows: April $60,000...
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Accounting
Mississippi Retailers expects to make inventory purchases in the next quarter as follows:
April $60,000
May $70,000
June $95,000
Prior experience has shown that 70 percent of a month's purchases are paid in the month of puchase and 30 percent are paid in the month following purchase. March purchases were $55,000. Estimate cash disbursements related to purchases for April, May, and June. Show all work.
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