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The company places orders each quarter that are 47 percent of next quarter's sales and...

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Finance

The company places orders each quarter that are 47 percent of next quarter's sales and has a 30-day payables period. The projected sales for next year are: Q1 Q2 Q3 Q4 Sales $ 53,550 $ 59,850 $ 68,850 $ 74,150 What is the accounts payable balance at the end of the second quarter? Multiple Choice $14,770 $18,753 $9,377 $21,573 $10,787

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