Calder pays for 20% of their purchases during the month of purchase, 70% during the month following the purchase, and the remaining 10% two months after the month of purchase. What is the budgeted accounts payable balance on December 31?
Calder Water Company has budgeted direct materials inventory purchases as follows:
October: $300,000
November: $360,000
December: $460,000
B) $404,000
Budgeted Accounts Payable balance on December 31
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