Eglon Grain and Feed has the following estimated sales. Purchases are equal to 71 percent of the following quarter's sales. The accounts receivable period is 30 days and 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 two?

Question

Eglon Grain and Feed has the following estimated sales.  Purchases are equal to 71 percent of the following quarter's sales. The accounts receivable period is 30 days and 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 two?

Quizplus · Accepted Answer

The Answer of Eglon Grain and Feed has the following estimated sales.  Purchases are equal to 71 percent of the following quarter's sales. The accounts receivable period is 30 days and 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 two?

Eglon Grain and Feed Has the Following Estimated Sales