The Corner Store has the following estimated sales. Purchases are equal to 61 percent of the following quarter's sales. Assume each month has 30 days, the accounts receivable period is 30 days and the accounts payable period is 45 days. How much will the firm pay its suppliers in the third quarter?

Question

The Corner Store has the following estimated sales.  Purchases are equal to 61 percent of the following quarter's sales. Assume each month has 30 days, the accounts receivable period is 30 days and the accounts payable period is 45 days. How much will the firm pay its suppliers in the third quarter?

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The Answer of The Corner Store has the following estimated sales.  Purchases are equal to 61 percent of the following quarter's sales. Assume each month has 30 days, the accounts receivable period is 30 days and the accounts payable period is 45 days. How much will the firm pay its suppliers in the third quarter?

The Corner Store Has the Following Estimated Sales