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Planet Company purchased goods worth $50,000 in July and expects to purchase goods worth $70,000 in August. Planet typically pays for 35% of purchases in the month of purchase and 65% in the following month. What are Planet Company's total expected cash disbursements for purchases in the month of August?

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jepessoa

Answer:

$49,000

Explanation:

Planet Company's purchase records:

                                                     July                  August            September

purchase 1: $50,000                                                  

partial payments                       $17,500            $24,500

purchase 2: $70,000                

partial payments                                                 $24,500             $45,500    

total                                            $17,500            $49,000             $45.500

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