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Lough Company prepared the following purchases​ budget: Month Budgeted Purchases June July August September October All purchases are paid for as​ follows: ​% two months after​ purchase, ​% in the following​ month, and ​% in the month of purchase. What are the cash disbursements in October to account for the September purchases at Lough​ Company?

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Answer: $21,150

Explanation:

The company pays 45% of the purchases amount in the month after the purchase. This will therefore apply to October for the month of September.

Cash Disbursement in October for September Purchase = 45% * September purchases

= 45% * 47,000

= $21,150

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