Northern Woods has the following estimated sales. Purchases are equal to 72 percent of the following quarter's sales. The accounts payable period is 45 days. Assume each month has 30 days. What is the estimated accounts payable balance at the end of quarter two?

Question

Northern Woods has the following estimated sales.  Purchases are equal to 72 percent of the following quarter's sales. The accounts payable period is 45 days. Assume each month has 30 days. What is the estimated accounts payable balance at the end of quarter two?

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The Answer of Northern Woods has the following estimated sales.  Purchases are equal to 72 percent of the following quarter's sales. The accounts payable period is 45 days. Assume each month has 30 days. What is the estimated accounts payable balance at the end of quarter two?

Northern Woods Has the Following Estimated Sales