J.S.and Co.has estimated quarterly sales for next year,starting with Quarter 1,of $13,800,$15,200,$17,300,and $16,500.Purchases are equal to 65 percent of the following quarter's sales.What is the cash outlay for accounts payable for Quarter 3 if the firm has a 30-day accounts payable period? Assume each month has 30 days.
A) $9,938.33
B) $10,898.33
C) $13,486.67
D) $11,966.67
E) $12,503.33
Correct Answer:
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