Lough Company prepared the following purchases budget:
All purchases are paid for as follows: 20% two months after purchase,55% in the following month,and 25% in the month of purchase.
What are the cash disbursements in August to account for the June purchases at Lough Company?
A) $8,000
B) $25,300
C) $22,000
D) $10,000
Correct Answer:
Verified
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