Purchases on account are given below: $$\begin{array} { l c c }
\text { October } & \text { November } & \text { December } \
30,000 & 40,000 & 50,000
\end{array}$$ 55% of the month's purchases will be paid in the month of the purchase; the remaining 45% will be paid in the following month.
How much will the cash payments for purchases be in November?
A) $35,500
B) $34,500
C) $40,000
D) $36,000

Question

Purchases on account are given below: $$\begin{array} { l c c } 
\text { October } & \text { November } & \text { December } \
30,000 & 40,000 & 50,000
\end{array}$$ 55% of the month's purchases will be paid in the month of the purchase; the remaining 45% will be paid in the following month.
How much will the cash payments for purchases be in November?
A) $35,500
B) $34,500
C) $40,000
D) $36,000

Quizplus · Accepted Answer

In November, 55% of November's purchases ($40,000) will be paid, which is $22,000. Additionally, 45% of October's purchases ($30,000) will be paid, which is $13,500. Total cash payments in November = $22,000 + $13,500 = $35,500.

Purchases on Account Are Given Below October November December 30,00040,00050,000\begin{array} { l c c } \text { October } & \text { November } & \text { December } \\30,000 & 40,000 & 50,000\end{array} October 30,000​ November 40,000​ December 50,000​

Purchases on Account Are Given Below $\begin{array} { l c c } \text { October } & \text { November } & \text { December } \\30,000 & 40,000 & 50,000\end{array}$