Purchases on account are given below: October November December 30,000 40,000 50,000 55% of the month's purchases will be paid in the month of the purchase; the remaining 45% will be paid in the following month. How much will the cash payments for purchases be in November

Question

Business

Ian Brandt

25 June, 16:04

Purchases on account are given below: October November December 30,000 40,000 50,000 55% of the month's purchases will be paid in the month of the purchase; the remaining 45% will be paid in the following month. How much will the cash payments for purchases be in November

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Cardenas · Answer 1

Cash payments for purchase in November = $35,500

Explanation:

cash payments for purchase in November=0.55*November+0.45*October

which is equal to

= (0.55*40000) + (0.45*30000)

which is equal to

=$35500.