Store has estimated quarterly sales for next year

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Reference no: EM131354896

The Grain and Feed Store purchases are equal to 68 percent of the following quarter's sales. The accounts receivable period is 15 days and the accounts payable period is 30 days. Assume there are 30 days in each month. The store has estimated quarterly sales for the next year, starting with Quarter 1, of $16,750, $18,220, $17,560, and $19,710, respectively. How much will the store owe its suppliers at the end of Quarter 3? A. $3,992.20 B. $3,807.40 C. $4,467.60 D. $4,508.10 E. $4,300.27

Reference no: EM131354896

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