Broad Cloth, Inc.'s average collection period is 15 days.The vice-president of marketing has projected credit sales of $2 million for October, $2.5 million for November and $3 million for December.Purchases equal 60% of sales and are made one month in advance of budgeted sales.Payments are made one month after the date of purchase.Compute payments for purchases for the months of November and December.

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The Answer of Broad Cloth, Inc.'s average collection period is 15 days.The vice-president of marketing has projected credit sales of $2 million for October, $2.5 million for November and $3 million for December.Purchases equal 60% of sales and are made one month in advance of budgeted sales.Payments are made one month after the date of purchase.Compute payments for purchases for the months of November and December.