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At what amount will accounts payable for raw materials

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Question - Acti Manufacturing Corporation is estimating the following raw material purchases for the final four months of the year:

September - $830,000

October - $940,000

November - $860,000

December - $780,000

At Acti, 40% of raw materials purchases are normally paid for in the month of purchase. The remaining 60% is paid for in the month following the purchase.

In Acti's budgeted balance sheet at December 31, at what amount will accounts payable for raw materials be shown?

Reference no: EM132221298

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