Hightower Company has the following information: Purchases are paid as follows:
75% in the month of purchase
25% one month after purchase
What is the expected balance in Accounts Payable on April 30?
A)0
B)$7,500
C)$20,250
D)$30,000

Question

Hightower Company has the following information:  Purchases are paid as follows:
75% in the month of purchase
25% one month after purchase
What is the expected balance in Accounts Payable on April 30?
A)0 
B)$7,500 
C)$20,250 
D)$30,000

Quizplus · Accepted Answer

The Answer of Hightower Company has the following information:  Purchases are paid as follows:
75% in the month of purchase
25% one month after purchase
What is the expected balance in Accounts Payable on April 30?
A)0 
B)$7,500 
C)$20,250 
D)$30,000

Hightower Company Has the Following Information: Purchases Are Paid