Paymore Products places orders for goods equal to 75% of its sales forecast in the next quarter. The sales forecasts for the next five quarters are as follows: Quarter in Coming Year Following Year First Quarter First $385 Second Third Fourth Sales forecast $365 $341 $389 $389 Calculate Paymore's cash payments to its suppliers assuming that two-thirds of the purchases are paid for in the quarter that they are purchased and one-third are paid in the following quarter. (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) Quarter Payment 1 2 3 4
Paymore Products places orders for goods equal to 75% of its sales forecast in the next quarter. The sales forecasts for the next five quarters are as follows: Quarter in Coming Year Following Year First Quarter First $385 Second Third Fourth Sales forecast $365 $341 $389 $389 Calculate Paymore's cash payments to its suppliers assuming that two-thirds of the purchases are paid for in the quarter that they are purchased and one-third are paid in the following quarter. (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) Quarter Payment 1 2 3 4
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter22: Providing And Obtaining Credit
Section: Chapter Questions
Problem 5MC
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![Paymore Products places orders for goods equal to 75% of its sales forecast in the next quarter. The sales forecasts for the next five
quarters are as follows:
Following Year
First Quarter
Quarter in Coming Year
First
Second
Third
Fourth
Sales forecast
$385
$365
$341
$389
$389
Calculate Paymore's cash payments to its suppliers assuming that two-thirds of the purchases are paid for in the quarter that they are
purchased and one-third are paid in the following quarter. (Do not round intermediate calculations. Round your answers to the
nearest whole dollar amount.)
Quarter
Payment
1
2
3
4](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8e615c75-2a0b-4a42-8159-bcac2309173b%2F664f9c65-5196-463d-8af5-69c0e72fe182%2Fl52fsjg_processed.png&w=3840&q=75)
Transcribed Image Text:Paymore Products places orders for goods equal to 75% of its sales forecast in the next quarter. The sales forecasts for the next five
quarters are as follows:
Following Year
First Quarter
Quarter in Coming Year
First
Second
Third
Fourth
Sales forecast
$385
$365
$341
$389
$389
Calculate Paymore's cash payments to its suppliers assuming that two-thirds of the purchases are paid for in the quarter that they are
purchased and one-third are paid in the following quarter. (Do not round intermediate calculations. Round your answers to the
nearest whole dollar amount.)
Quarter
Payment
1
2
3
4
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