Tolga Moving Systems,Inc.has provided the following details for direct materials purchased on account in different months.
$\begin{array}{ll}
\text { Jan } & \$ 35,000 \
\text { Feb } & 28,000 \
\text { March } & 34,000 \
\text { April } & 39,000 \
\text { May } & 32,000 \
\text { Iune } & 29,000
\end{array}$ The terms of payment offered by the suppliers are to pay 70% in the month of purchase and 30% in the following month.Calculate the payments on account made during the first six months.

Question

Tolga Moving Systems,Inc.has provided the following details for direct materials purchased on account in different months.
 $\begin{array}{ll}
\text { Jan } & \$ 35,000 \
\text { Feb } & 28,000 \
\text { March } & 34,000 \
\text { April } & 39,000 \
\text { May } & 32,000 \
\text { Iune } & 29,000
\end{array}$ The terms of payment offered by the suppliers are to pay 70% in the month of purchase and 30% in the following month.Calculate the payments on account made during the first six months.

Quizplus · Accepted Answer

The Answer of Tolga Moving Systems,Inc.has provided the following details for direct materials purchased on account in different months.
 $\begin{array}{ll}
\text { Jan } & \$ 35,000 \
\text { Feb } & 28,000 \
\text { March } & 34,000 \
\text { April } & 39,000 \
\text { May } & 32,000 \
\text { Iune } & 29,000
\end{array}$ The terms of payment offered by the suppliers are to pay 70% in the month of purchase and 30% in the following month.Calculate the payments on account made during the first six months.

Tolga Moving Systems,Inc The Terms of Payment Offered by the Suppliers Are to Purchased