Ivory Inc. has forecast purchases on account to be $310,000 in March, $370,000 in April, $420,000 in May, and $490,000 in June. Seventy percent of purchases are paid for in the month of purchase, the remaining 30% are paid in the following month. What are budgeted cash payments for June?
A. $441,000
B. $294,000
C. $469,000
D. $343,000
Answer: C
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Answer the following statement true (T) or false (F)
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