Problem 19-8 Forecasting Payments (LO2) Paymore Products places orders for goods equal to 75% of...
70.2K
Verified Solution
Link Copied!
Question
Finance
Problem 19-8 Forecasting Payments (LO2)
Paymore Products places orders for goods equal to 75% of its sales forecast in the next quarter. The sales forecasts for the next five quarters are as follows:
Quarter in Coming Year
Following Year
First
Second
Third
Fourth
First Quarter
Sales forecast
$460
$334
$351
$399
$399
Calculate Paymore's cash payments to its suppliers assuming that two-thirds of the purchases are paid for in the quarter that they are purchased and one-third are paid in the following quarter. (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.)
Quarter
Payment
1
2
3
4
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
