Quick dollar company purchases every merchandise on credit

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Reference no: EM1345180

Quick Dollar Company purchases every merchandise on credit. It just budgeted the following month-end accounts payable balances and merchandise inventory balances. Cash payments on accounts owed during each month are expected to be- May, $1,600,000; June, $1,490,000; July, $1,425,000; and August, $1,495,000.

Reference no: EM1345180

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