Problem 26-8 Calculating Payments The Glasgow Corporation's purchases from suppliers in a quarter are equal...
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Problem 26-8 Calculating Payments The Glasgow Corporation's purchases from suppliers in a quarter are equal to 60 percent of the next quarter's forecast sales. The payables period is 60 days. Wages, taxes, and other expenses are 25 percent of sales and interest and dividends are $95 per quarter. No capital expenditures are planned. Here are the projected quarterly sales: Q1 Q2 Q3 Q4 Sales $1,860 $2,160 $1,860 $1,560 Sales for the first quarter of the following year are projected at $2,190. Calculate the company's cash outlays by completing the following: (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Q1 Q2 Q3 Q4 Payment of accounts Wages, taxes, other expenses Long-term financing expenses interest and dividends) Total
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