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Harkin Products Expects to Make Purchases of $65,000 in January;

Question 140

Multiple Choice

Harkin Products expects to make purchases of $65,000 in January; $80,000 in February; $50,000 in March; and $90,000 in April.Purchases are paid 30% in the month of purchase and 70% in the month after purchase.How much is budgeted accounts payable at March 31?


A) $35,000
B) $71,000
C) $59,000
D) None of the answer choices are correct.

Correct Answer:

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