Aftermarket Auto Parts has the following estimated sales.
Purchases are equal to 68 percent of the following quarter's sales. The accounts payable period is 60 days. Assume there are 30 days in each month. How much will the firm owe its suppliers at the end of quarter three?
A) $3,718
B) $3,967
C) $5,502
D) $7,435
E) $7,933
Correct Answer:
Verified
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